Impact - positive as the proposed swap will eliminate at a discount a material portion of the Company's outstanding debt, thus reducing onerous interest payments, while still retaining a portion of its Tourmaline shares providing financial flexibility to continue to manage through the downturn
13 Apr 2016
ANNOUNCES PROPOSAL TO SWAP SENIOR NOTES FOR TOURMALINE OIL CORP. SHARES, NEW MARGIN LOAN ARRANGEMENT, AND CREDIT FACILITY REDUCTION
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ANNOUNCES PROPOSAL TO SWAP SENIOR NOTES FOR TOURMALINE OIL CORP. SHARES, NEW MARGIN LOAN ARRANGEMENT, AND CREDIT FACILITY REDUCTION
Impact - positive as the proposed swap will eliminate at a discount a material portion of the Company's outstanding debt, thus reducing onerous interest payments, while still retaining a portion of its Tourmaline shares providing financial flexibility to continue to manage through the downturn