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ATB Provides $36MM Revolver to Toscana Energy

May 01, 2017, 07:00 AM
Filed Under: Energy

Toscana Energy Income Corporation announced that it has entered into a commitment letter with respect to a new senior secured demand revolving credit facility with Alberta Treasury Branches (ATB).

The Credit Facility will provide the Corporation with a $36 million that will be available on a fully revolving basis. ATB has committed to the new Credit Facility subject to the finalization of documentation.

Current bank borrowings are estimated at $26 million, leaving approximately $10 million available for general corporate purposes. This new Credit Facility provides for expanded flexibility in managing corporate affairs within the current marketplace.

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