Obsidian Energy increased its syndicated credit facility and repaid its term loan. The aggregate amount available on Obsidian’s credit facility has increased to $300 million from $260 million with the addition of ICBC Standard Bank to the company’s banking syndicate._x000D_
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The revolving period and maturity dates under the credit facility remain unchanged on May 31, 2025, and May 31, 2026, respectively. The expansion of the credit facility supports the company’s objective of continuing to enhance liquidity while accelerating repayment of its term loan and providing flexibility for its Peace River production growth and return of capital strategy._x000D_
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Obsidian used the increase in its credit facility to reduce the amount outstanding on its term loan to $10 million. The term loan continues to have a maturity date of June 26, 2025 and is expected to be repaid prior to that time with internally generated cash flow. The $50 million term loan was originally utilized to partially fund the company’s Peace River asset acquisition that closed in June 2024.
Forward for Specialty Finance
