IN BRIEF: Zephyr Energy reduces interest on revolving credit facility
16th Oct 2024 14:29
Zephyr Energy PLC - Rocky Mountain region-focused oil and gas company that aims for responsible resource development and carbon-neutral operations - Says its lender, North Dakota-based First International Bank & Trust, has completed its semi-annual redetermination of the company's revolving credit facility, and reduces the interest rate to 10% per annum from 11% per annum. It makes no change to the amount available under the facility. The group's borrowings after the redetermination process are around USD27.4 million, reduced 22% from USD35.3 million at January 1. It also results in an overall reduction of USD150,000 in annualised interest costs for Zephyr Energy. Read More