Western Oil Sands gets C$850 million revolver

By Sara Rosenberg

New York, June 25 - Western oil Sands Inc. closed on a new C$805 million five-year revolving credit facility (Ba2/BBB), according to a company news release.

RBC Capital Markets acted as the lead bank on the deal.

The new revolver replaces the company's existing C$340 million revolver.

Borrowings will be used to fund the company's share of the capital requirements associated with Expansion 1 of the Athabasca Oil Sands Project and for general corporate purposes.

Western Oil Sands is a Calgary, Alta.-based company focused on the opportunity capture and development of large, world-class hydrocarbon resources.

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