Senex Energy (ASX:SXY) has today announced it has entered into a fully underwritten $150 million debt facility to fund the development of its Surat Basin gas projects.
The key terms of the facility include a $125 million senior secured Reserve Based Lending facility with a seven year tenor.
Senex says the facility also boasts competitive margins with starting interest cost of around 6 per cent per annum and a $25 million working capital facility.
The finance which is fully underwritten by ANZ will fund the development of Senex’s east coast gas development projects.
Shares in Senex (ASX:SXY) are trading 7.93 per cent higher to 44c.