Citibank acted as sole structuring agent for Atlas, which closed its $285 million senior secured financing on behalf of its wholly owned subsidiary, APR Energy.
Pipestone Energy successfully re-financed its existing credit facilities with a $225 million reserve-based loan (RBL), which provides meaningful financial flexibility going forward.
Delta 9 Cannabis amended its borrowing arrangement with Canadian Western Bank to increase its existing loan and credit facility to approximately $18.19 million.
Essential Energy Services amended and restated its revolving secured credit facility agreement with a syndicate of lenders, including National Bank of Canada, ATB Financial and Canadian Western Bank.
Just Energy Group renegotiated an agreement with a syndicate of lenders to increase its credit facility to $352.5 million. Canadian Imperial Bank of Commerce and National Bank of Canada were joint lead arrangers.
Whitecap Resources entered into an agreement to purchase light oil assets in Southeast Saskatchewan for $940 million. National Bank of Canada served as administrative agent for an increase of the company’s facility to $1.7 billion to support the purchase.
Essential Energy Services has entered into a renewed credit facility agreement with a syndicate of lenders, including National Bank of Canada, TD Bank, HSBC Bank Canada and Canadian Western Bank. The facility was reduced to $40 million from $100 million.
Canadian Western Bank has made demands upon its debtor Terra Energy, along with certain subsidiaries, as guarantors, for payment in full of its outstanding indebtedness of $15.9 million plus interest and fees.