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Southern Pacific Resource Corp., Credit Suisse AG Enter Loan Agreement

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March 31, 2014

Southern Pacific Resource Corp. (TO: STP.TO), Credit Suisse AG and its affiliate entered into an agreement for Southern Pacific Resource’s new first-lien term loan facility whose aggregate principal amount equals US$150 million, the company said March 26.

The new first-lien loan will have a five-year term with a March 28 maturity date, and is scheduled to close and be funded on that date, the company said. It will bear Libor interest plus 10%, the company added. 

This new loan facility will replace the existing CA$100 million first-lien credit facility, Southern ...

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