CGGVeritas announced the amendment on May 21, 2009 of its US senior facilities agreement and on May 27, 2009 of its French revolving facility agreement. These amendments are in line with CGGVeritas conservative financial policy. They were aimed mainly at increasing the Company's headroom under the financial covenants in its existing credit facilities.
In consideration of these amendments, CGGVeritas repaid $100 million of its term loan B under the US senior facilities and increased the applicable margin for all borrowings under the US senior facilities and French revolving facility by 1.0%.
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