KeyBank, Others Provide Synergy Resources Facility Extension
Synergy Resources announced that the borrowing base on its $300 million credit facility led by Community Banks of Colorado has increased to $110 million. The lending syndicate included Amegy Bank, KeyBank, SunTrust Bank and Colorado Business Bank.
The credit facility has been extended from a maturity date of November 2016 to a new maturity date of June 2019. The facility bears interest at a floating rate based upon LIBOR or prime rate plus a margin, with a floor interest rate of 2.5%.
Synergy Resources Corporation is a domestic oil and natural gas exploration and production company.