25th Jan 2016 09:29
LONDON (Alliance News) - Caza Oil & Gas Inc on Monday said its Caza Petroleum Inc subsidiary has signed a five-year, senior secured, reserve-based revolving credit facility.
JPMorgan Chase Bank was the lender on the financing agreement, which includes a total credit facility of USD100.0 million and an initial borrowing base of USD15.0 million.
Caza intends to use the proceeds from the facility for working capital and to pay the fees associated with the loan.
Shares in Caza were down 4.0% to 0.216 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
CAZA.L