Petroflow Confirms Changes To Borrowing Base

摘要

Petroflow Energy Ltd. says it recently concluded a borrowing base update under its bank loan agreement maintaining its overall current borrowing capacity of $110 million (U.S.)Guaranty Bank in Houston is acting as lead agent with Texas Capital Bank, also in Houston, acting as co-agent for the facility.The facility now consists of an "A" tranche with a maturity date of Jan. 1, 2012 and a borrowing base of $100 million. Interest rates on the "A" tranche range from LIBOR plus 2% to LIBOR plus 2.5% depending on the percentage of funds actually borrowed. The "A tranche interest rate floor is 5.5%.