May 29, 2020 |
Canadian oil and gas company Touchstone Exploration has taken out a seven-year loan for $20 million to refinance debt from an onshore exploration block in Trinidad and Tobago, the company said on Wednesday.
Republic Bank was the sole arranger and initial lender on the seven-year facility, but it could distribute the loan in the secondary market after it is fully drawn, Ray Klien, head of investment banking at Republic Bank, said in an email.
Touchstone expects to receive the loan before June 15
Republic Bank could distribute the $20 mln loan in the secondary market after it is fully drawn