Advantage announces renewal of credit facility at $400 million
May 26, 20205:00 AM CNW
CALGARY – Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to announce the renewal of the Corporation’s existing $400 million revolving credit facility, following completion of its annual review by the syndicate of lenders.
Upon closing of the previously announced sale of a 12.5% interest in the Glacier Gas Plant for $100 million in July 2020 (see Advantage news release dated April 13, 2020), Advantage and the lending syndicate have agreed to adjust the revolving credit facility to $350 million, resulting in a significant net increase in liquidity and further strengthening of the balance sheet.
Advantage would like to acknowledge the continued strong support from the lending syndicate of long-standing business partners.