Niko Notes Credit Facility
Niko Resources has entered into an agreement for credit facilities totaling $250 million. The first is a $225 million Senior Secured Syndicated Credit Facility and the second a $25 million Senior Secured Operating facility. The syndicated facility was jointly arranged by Scotia Capital and RBC Capital Markets and includes participation by a total of seven international banks.
Each facility is available for general corporate purposes and has a revolving period of three years that is extendible annually. Borrowings under the facilities carry an interest rate of USD Libor plus an applicable margin that steps up based on a leverage ratio. Currently, the applicable margin is 2.75 percent and USD Libor is 0.30 percent for an all in rate of 3.05 percent.
Operates 1 Offshore Rigs
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