Crown Capital has agreed to provide a $12 million bridge loan to Petrowest as part of the company’s restructuring effort. Crown will also refinance the company’s existing term loan, increasing the amount from $12 million to $15 million.
Petrowest entered into an amendment to its credit facility with a lender syndicate led by Bank of Montreal. The amendment enables the company to decrease its overall commitment from $90 million to $75 million.
Petrowest entered into an amendment of its $90 million credit facility with a syndicate of lenders led by Bank of Montreal. The company also closed a $15 million subordinated debt transaction with Crown Capital Fund.
Petrowest amended its revolving credit facility with Bank of Montreal to increase the maximum amount from $30 million to $40 million and extend the maturity date.