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Osage Exploration and Development’s Credit Facility Refinanced

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April 4, 2014

Osage Exploration and Development Inc. (OTC: OEDV) and Apollo Investment Corp. (NasdaqGS: AINV) entered into a new $30 million drawdown credit facility that refinanced Osage’s existing credit facility, the company said April 3.

The existing $20 million credit facility now has an additional $10 million of liquidity at an interest rate 25% lower than the one in the company’s previous credit facility with Apollo, Osage added.

Additionally, loan covenants that were previously applied were reset, and the company’s cost of capital for the facility decreased to Libor plus 11%, down ...

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