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Peyto Expands Credit Facility To $1B

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April 26, 2013

Peyto Exploration and Development Corp. (TO: PEY) expanded the company's revolving credit facility from C $730 million to C $1 billion.

Peyto’s syndicate of lenders is led by Bank of Montreal and includes Union Bank Canada Branch, Royal Bank of Canada, Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, Scotiabank, HSBC Bank Canada, Alberta Treasury Branch, and Canadian Western Bank.

This expanded, unsecured, covenant based credit facility has a two-year term and contains the same financial covenants as the previous secured revolver. In addition, the note purchase agreements for the C ...

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