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Triangle Petroleum ups borrowing base to $275 million, extends to 2018
By Susanna Moon
Chicago, Oct. 22 - Triangle USA Petroleum Corp., a wholly owned subsidiary of Triangle Petroleum Corp., amended its loan terms on Oct. 16, lifting the borrowing base to $275 million and extending the maturity to Oct. 16, 2018, according to an 8-K filing with the Securities and Exchange Commission.
The company also added JPMorgan Chase Bank, NA, KeyBank NA and Iberiabank as lenders under the facility.
Interest on the loans was reduced by 25 basis points.
The company amended the terms with Wells Fargo Bank, NA as the administrative agent and issuing lender.
The borrowing base was increased from $165 million.
Calgary, Alta.-based Triangle Petroleum is an oil and gas exploration company.
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