Igas Energy Plc signs A US$40 Million Senior Secured Reserve-Based Lending Facility

  • Igas Energy Plc (IGAS) has signed a US$40 million senior secured Reserve-Based Lending Facility with BMO Capital Markets.
  • Apart from the new debt facility of US$40 million, an additional US$20 million accordion facility is available on an uncommitted basis, subject to new bank commitments.
  • The company will be using the proceeds for fund development opportunities in the conventional portfolio and repaying the Secured Bonds apart from general corporate purposes.
  • On 3rd October 2019, at the time of writing, GMT 12:20 PM, IGAS shares were trading at GBX 52.00, down by 1.50 points or 2.80 per cent against the previous day closing price.