MEG Energy re-prices, increases and extends the maturity of its term loan

CALGARY, Feb. 25, 2013 /CNW/ - MEG Energy Corp. ("MEG") announces that in light of favourable market conditions, it has re-priced and extended the maturity of its existing US$987.5 million term loan. The interest rate of the covenant-light term loan has been reduced by 25 basis points and the maturity has been extended by two years to March 2020. In addition to re-pricing and extending the term loan, MEG has also taken the opportunity to increase the term loan by US$300 million on the same terms and conditions.

Barclays acted as the sole arranger and bookrunner in connection with the transaction.

MEG Energy Corp. is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is actively developing enhanced oil recovery projects that utilize SAGD extraction methods. MEG's common shares are listed on the Toronto Stock Exchange under the symbol "MEG."

SOURCE: MEG Energy Corp.

For further information:

Investors
Helen Kelly
Director, Investor Relations
(403) 767-6206
helen.kelly@megenergy.com

Media
Brad Bellows
Director, External Communications
(403) 212-8705
brad.bellows@megenergy.com


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.