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Eagle Energy Trust, Lenders Increase Credit Facility to $70MM

November 04, 2013, 07:22 AM
Filed Under: Energy

Eagle Energy Trust announced  that the syndicate of lenders for Eagle's credit facility have completed their annual mid-year review and have approved a $ 9 million increase to the borrowing base under the credit facility to $70 million and an extension of its term to May 2015. In addition, upon the successful closing of the acquisition of certain petroleum interests, the lenders have approved a further increase in Eagle's credit facility to $90 million consisting of a $80 million revolving facility and a new one year non-revolving credit facility of $10 million.

Eagle is an oil and gas energy trust created to provide investors with a publicly traded, oil and natural gas focused, reliable distribution paying investment, with favourable tax treatment relative to taxable Canadian corporations.

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