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Petrus Resources announces 2nd term that is lien expansion, expansion to credit center and third quarter 2020 money spending plan

Petrus Resources announces 2nd term that is lien expansion, expansion to credit center and third quarter 2020 money spending plan

16, 2020 Globe Newswire july

CALGARY, Alberta – Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is happy to announce the concurrent expansion of their second lien term loan (“Term Loan”) and Revolving Credit Facility (“RCF”) while the conclusion for the RCF loan providers’ 2020 review that is annual. The Company’s board of directors in addition has authorized its 3rd quarter 2020 money budget.

2ND LIEN TERM LOAN EXTENSION Petrus has entered into an amending contract with Macquarie Bank restricted to expand the $35 million Term Loan maturity date to 31, 2021 july. The attention price regarding the Term Loan balance will undoubtedly be updated in order to become the Dealer that is canadian Offered (“CDOR”) plus 975 foundation points. Most of the interest are going to be created by method of paymentinkind (“PIK”) and included with the outstanding stability for the Term Loan in lieu of payment per month of money interest.

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