Twin Butte Energy lenders agree to extend credit facilities to June 9

By Angela McDaniels

Tacoma, Wash., June 8 – Twin Butte Energy Ltd. said its bank syndicate has agreed to extend the maturity date of its C$85 million non-revolving credit facility and the expiry of the revolving period of its C$140 million revolving credit facility to June 9 from June 7 to enable the company to continue with its strategic alternatives process.

Strategic alternatives may include a debt restructuring, a sale of all or a material portion of the company’s assets, the outright sale of the company or merger and/or alternative financing initiatives, according to a company news release.

As announced on Dec. 9, Twin Butte engaged Peters & Co. Ltd. and National Bank Financial Inc. as its financial advisers in connection with its strategic alternatives process.

Twin Butte is an oil and gas company based in Calgary, Alta.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.