Pipestone Energy increased its reserve-based loan to $280 million from $225 million. The banking syndicate for the facility, which is co-led by National Bank Financial and BMO and includes ATB Financial and Canadian Western Bank, was expanded to also include the Business Development Bank of Canada.
National Bank Financial, Bank of Montreal, ATB Financial and Canadian Western Bank redetermined Pipestone Energy’s $225 million reserve-based loan. The credit facility’s capacity was maintained at $225 million.
Pipestone Energy successfully re-financed its existing credit facilities with a $225 million reserve-based loan (RBL), which provides meaningful financial flexibility going forward.