Synergy Resources Corp. (NYSE MKT: SYRG) increased the borrowing base of its credit facility to $110 million, the company said June 5.
The credit facility, which has $300 million, had its maturity date extended to June 2019 from November 2016, the company added.
The facility’s interest rate is 2.5%, Synergy said.
Community Banks of Colorado led a bank syndicate that included Amegy Bank N.A., Key Bank N.A., SunTrust Bank and Colorado Business Bank, according to company CFO Monty Jennings.
“The expansion of the borrowing base provides $73 million of additional ...