Linc Energy Limited
(ASX:LNC) has secured a new line of credit worth $120 million.
The facility is available for one year and was secured through an affiliate of Fortress Investment Group, a New-York based group with more than $US40 billion in funds under management.
Linc will use the credit to fund its general operations throughout 2012.
The company says the costs of the credit over the full period is about seven per cent over the one month bank bill swap bid margin rate.
Linc Energy recorded a net profit of $296.4 million for the year to June 2011.
