Impact: Neutral to slightly negative. Touchstone's borrowing base on its Trinidad based credit facility has been established at US$8 mm, down US$1 mm from its last review. US$2 mm is currently drawn and US$6 mm currently dedicated to the Company's letter of credit relating to the East Brighton property. Once the sale of the property is finalized, the letters of credit will be cancelled and the borrowing base will be reduced to US$ 3 mm, leaving the Company with US$1 mm left to borrow. As at year ....
14 Apr 2016
PROVIDES CREDIT FACILITY UPDATE
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PROVIDES CREDIT FACILITY UPDATE
Touchstone Exploration Inc (TXP:LON) | 50.5 -0.3 (-1.0%) | Mkt Cap: 118.3m
- Published:
14 Apr 2016 -
Author:
Darren B. Engels -
Pages:
2
Impact: Neutral to slightly negative. Touchstone's borrowing base on its Trinidad based credit facility has been established at US$8 mm, down US$1 mm from its last review. US$2 mm is currently drawn and US$6 mm currently dedicated to the Company's letter of credit relating to the East Brighton property. Once the sale of the property is finalized, the letters of credit will be cancelled and the borrowing base will be reduced to US$ 3 mm, leaving the Company with US$1 mm left to borrow. As at year ....