E&P Operator Gets Term Loan

E&P Operator Gets Term Loan

Colombia Loans Canada

Canadian LatAm-focused oil company Canacol Energy has closed a 5-year, $140m senior secured term loan, it says. The facility pays Libor+4.50% and is guaranteed by Canacol’s assets. The term loan has an 18-month grace period, and allows the borrower to effectively consolidate and secure better terms for outstanding debt. The proceeds will be used to repay a $45m term loan and interest coming from Canacol’s acquisition of Shona Energy, to repay a $31.1m facility led by Scotiabank, along with its i

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