TSX:MEROil and Gas
Will Refinancing Its US$600 Million Facility Change Meren Energy's (TSX:MER) Funding Flexibility Narrative
Meren Energy Inc. has refinanced its reserves-based lending facility through subsidiary Meren Coöperatief U.A., increasing total commitments to US$600 million with potential expansion to US$1 billion, lowering the loan-life average margin, and extending the facility tenor to six years while preserving revolving flexibility.
By boosting available borrowing capacity from US$468 million to an expected US$574 million and slightly lowering interest margins, the company gains additional room to...