EPSN - Epsilon Energy closes new senior secured reserve-based revolving credit facility
2023-06-28 16:49:47 ET
- Epsilon Energy ( NASDAQ: EPSN ) on Wednesday said it had closed a new senior secured reserve-based revolving credit facility with Frost Bank as the issuing bank and sole lender.
- The credit facility has a four year term and matures on June 28, 2027. It has an initial borrowing base of $35M and initial commitments of $35M.
- "Our new credit facility includes attractive commercial terms and covenants that will enable us to flexibly deploy incremental capital to attractive opportunities within our existing asset base and potential future acquisitions, to the benefit of our shareholders," EPSN CFO Andrew Williamson said in a statement .
- EPSN stock earlier closed +0.4% at $5.33.
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Epsilon Energy closes new senior secured reserve-based revolving credit facility