Trefoil Enters Senior Secured Revolving Facility
Last Friday Trefoil Limited (OSE: TREF) entered into a US $70 million senior secured revolving facility with Standard Bank PLC through its 100% subsidiary Petrolera El Trebol S.A.
The initial borrowing base is US $35 million, and is backed by cash flow from proved reserves from existing assets (including the recent acquisitions of Atamisqui and Tupungato) and has a tenor of 3 years. The interest rate for the facility is LIBOR plus 400 bps. The facility will be partly used in accordance with Trefoil Limited`s development program and to finance further growth.
Trefoil is focused on the acquisition, exploitation and development of oil and gas properties in Argentina through its 100% owned Argentine subsidiary.
- Trefoil's First Well in Puesto Rojas Encounters Oil (Aug 14)
- Trefoil Pleased with Atamisqui Discovery Well (May 09)
- Trefoil Encouraged by Chanares Herrados Well Test (Mar 27)