ATB Financial will provide up to $6.25 million in interim financing and Luminus Energy will provide up to $13.5 million in interim financing to Delphi Energy. The financing was approved as part of an order from the Court of Queen’s Bench of Alberta.
Delphi Energy has renewed the borrowing base of its senior credit facility led by Alberta Treasury Branches has been renewed at $80 million.
Delphi Energy has extended the term out date of its $105 million senior secured credit facility to June 14, 2019. The bank syndicate is led by Alberta Treasury Branches and includes The Bank of Nova Scotia and Bank of Montreal.
After their semiannual review, National Bank of Canada, Bank of Nova Scotia and Alberta Treasury Branches reduced Delphi Energy’s credit facility by 5% to $132.5 million.