Sundance closes debt refinancing

Company News

Sundance Energy Australia Limited (ASX:SEA) has closed its round of debt refinancing with Morgan Stanley to provide $250 million of new capacity.
 
The oil and gas producer says it now has access to a $300 million revolving credit facility and a $175 million senior term loan facility with $125 million drawn at closing.
 
The revolving facility has a five year term paying interest based on LIBOR plus 7 per cent and a 1 per cent LIBOR floor. 
 
As at March 31 the company estimates its total liquidity position to be around $63 million. 
 
Sundance reported a net profit of 18.7 million in the 2014 calendar year. 

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