Senex announces a fully underwritten $150 million debt facility

Company News

by Anna Napoli

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.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.