News: Sundance closes debt refinancing

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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 first half of the 2014 calendar year.