Encana amended its credit facility with Royal Bank of Canada as administrative agent, reducing the size of the revolver from $3 billion to $2.5 billion and extending the maturity date to July 15, 2022.
According to a related 8-K filing, Encana subsidiary Alenco concurrently signed a successor agreement to its October 20, 2011 facility with JPMorgan succeeding Citibank as administrative agent. The company also updated certain interest rate definitions, amended the ratings-based pricing grid to reduce the applicable margins and extended the maturity date from July 16, 2020 to July 15, 2022. The size of the revolving credit facility remains at S$1.5 billion.
Encana is an energy producer that was created through the merger of PanCanadian Energy Corporation and Alberta Energy Company in 2002.
