MEG Energy Corp. (Toronto: MEG.TO) has expanded its senior secured revolving credit facility from US$2.0 billion to US$2.5 billion and has extended the maturity of the revolving credit facility by one year to 2019. The transaction was completed through an amendment of MEG's credit agreement, entered into with its existing syndicate of lenders. The revolving credit facility retains its covenant-lite structure and is currently undrawn.
BMO Capital Markets and Barclays Bank PLC acted as joint lead arrangers and joint bookrunners for the transaction.
MEG is based in Calgary.
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