CGGVeritas Amends US Sr. Facilities, French Revolving Facility Agreements
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%.
- CGG Qualifies as Mexican Reserves Auditor (May 17)
- Karoon Engages CGGVeritas for 3D Seismic Survey in Permit WA-482-P (Jun 19)
- CGG: New Identity, New Acquisition (Jan 28)