Eagle Energy Trust gets expanded $95 million facility, adds lender

By Susanna Moon

Chicago, Feb. 12 – Eagle Energy Trust said it obtained an expanded $95 million credit facility, effective Wednesday.

The facility incorporates Eagle’s December 2014 acquisition of its Dixonville properties in north central Alberta, according to a company press release.

Under the expanded facility, Eagle added a third bank, National Bank Financial, to the syndicate, which continues to be led by Scotiabank, with CIBC as the other lender.

Amounts drawn on the facility can be denominated in U.S. or Canadian dollars and used for activities in either the United States or Canada, the press release noted.

As of Thursday, net debt was about C$37 million.

“The expansion of our credit facility affords us some dry powder for future growth as accretive opportunities become available,” Richard Clark, Eagle’s president and chief executive officer, said in the press release.

Eagle is an oil and gas energy trust based in Calgary, Alta.

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