Cequence refinances $60 mln notes with CPPIB's credit arm
Cequence Energy Ltd (TSX: CQE) has entered into a refinancing agreement with CPPIB Credit Investments, the credit arm of Canada Pension Plan Investment Board, providing for a $60 million second-lien senior secured term loan facility. The facility will be used to retire an existing $60 million in senior notes held by CPPIB. As part of the deal, Cequence has agreed to issue share purchase warrants entitling CPPIB to buy up to 15 percent of the company's common shares. Cequence, a Calgary-based oil and gas producer, said the refinancing and related transactions will allow it to more actively develop its Dunvegan light oil play.
30 July 2018•8 mins read
