Teine Energy to pay down all second-lien term loan debt via new notes

By Tali Rackner

Norfolk, Va., Sept. 3 – Teine Energy Ltd. intends to repay all outstanding debt under its second-lien term loan facility with the proceeds from a new notes offering, according to a press release. The second-lien facility will be retired following the debt repayment.

Proceeds will also be used to repay outstanding borrowings under the company’s revolving credit facility and for general corporate purposes.

Teine Energy is a Calgary, Alta.-based company focused on acquiring and developing conventional oil and natural gas properties in western Canada.

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