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Caza updates the status of its debt facilities


Published Nov 3, 2015
Caza Oil & Gas-2

Caza Oil & Gas, Inc. provides an update regarding the status of its debt facilities with Apollo Investment Corporation (Apollo), an investment fund managed by Apollo Investment Management, as well as related financing discussions.

As previously disclosed, the Company entered into a Note Purchase Agreement (the "Note Agreement") dated May 23, 2013 with Apollo, pursuant to which Apollo agreed to purchase from the Company up to US$50,000,000 of its senior secured notes. As reported in the announcement of its unaudited financial results for the three months ended June 30, 2015 (the "Q2-2015 Results"), the outstanding balance of the Apollo facility as at June 30, 2015 was US$45,000,000, which is also the current outstanding balance as at September 30, 2015.

Throughout the period of the Note Agreement, the Company has been required to comply with certain financial covenants, which are tested quarterly, and to maintain a limit on expenditures for general and administrative costs.

Tags: Caza Oil & Gas




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