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Ophir inks $250m reserve-based lending facility

21 June 2017 09:35

Ophir Energy has inked a new $250m Reserve Based Lending Facility (RBL) secured against its producing assets in Southeast Asia.

In addition to the committed $250m, a further $100m was available on an uncommitted "accordion" basis. The RBL had a seven year term and matured on 30 June 2024.

The RBL replaced Ophir's existing RBL facility, which matured in December 2019. The new RBL facility was currently undrawn.

The facility has been provided by Australia and New Zealand Banking Group Ltd, BNP Paribas, Commonwealth Bank of Australia, Credit Agricole, HSBC, Societe Generale and Standard Chartered.

Rothschild and Ashurst advised Ophir and Herbert Smith Freehills advised the banks.

At 9:35am: (LON:OPHR) Ophir Energy share price was +0.75p at 82.5p

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