InPlay Oil completed its annual renewal of its syndicated Senior Credit Facility.
InPlay’s Senior Credit Facility remains unchanged in lending capacity and has been renewed at $79 million comprised of a $65 million revolving facility(1) and the remaining $14 million term facility. The borrowing base of the revolving facility has been reconfirmed at the same amount of $65 million and the term out date extended to November 30, 2022.
In addition to the Senior Credit Facility, the Company’s $25 million four year term facility with the Business Development Bank of Canada remains in place, providing InPlay with $104 million of total lending capacity.