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
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
SOURCE: MEG Energy Corp.
For further information:
Director, Investor Relations
Director, External Communications