MEG Energy seeks leveraged loan as market reopens to oil and gas: Reuters
Canada's MEG Energy Corp is testing the capacity for oil-related loans with a US$1.235bn deal that will be used to refinance debt and is part of a capital restructuring, Reuters reported. The company could open the door for other leveraged energy borrowers to tap the loan market. Access to this pool of money has been largely shut off to the sector over the last year after oil prices started plummeting in 2014. With oil stabilizing, private equity firms may also see an opening and look to pull the trigger on buyout situations with the help from the banks that want their business.
19 January 2017•4 mins read
