Daily News: January 25, 2017

Macquarie Extends $42MM Petrus Term Loan


Petrus Resources entered into an agreement with Macquarie Bank to extend the company’s $42 million second lien term loan by two years; now due October 2019. The company also reduced the amount outstanding by $7 million through working capital and available credit facilities. The interest rate on the $35 million balance will remain unchanged at the Canadian dealer offered rate (CDOR) plus 700 basis points (currently a total interest rate of 7.9%).

The company plans to release its annual financial results on March 9, 2017.

Alberta-based Petrus is a public oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration.