Upon realizing more than US$1.5
billion in cash from asset sales, oil
sands producer MEG Energy said that
it will repay about $1.225 billion of a
senior secured term loan and fully fund
its $275 million brownfield expansion
of its Phase 2B facility at
Christina Lake.
The reduction of the
company’s bank loan will bring MEG’s
overall debt down to the vicinity of
C$3.4 billion at current exchange rates,
according to John Rogers, MEG’s VP
of Investor Relations. The company has
about US$2.55 billion of long-term debt
outstanding issued......
Provide your credentials to access this page
Member Area: Log in if you have a PLS web account or Sign up for internet access now.