Royal Helium (“RHC”) announced the signing of termsheets on 21st December for a six year non-revolving credit facility of C$15mm from the Business Development Bank of Canada and a “Schedule 1” bank at a rate of 3% above the Prime Lending Rate (currently 6.5%). Additionally, a revolving working capital facility of C$2.5mm at 2% above Prime at a time when mezzanine debt would incur a rate of 15-20%. The net proceeds will be used to fund capital expenditures related to the Steveville production fac ....
18 Jan 2023
Royal Helium: Attractive Debt Financing Funds Royal to First Production with Multiple Further Drilling Catalysts
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Royal Helium: Attractive Debt Financing Funds Royal to First Production with Multiple Further Drilling Catalysts
- Published:
18 Jan 2023 -
Author:
Anish Kapadia -
Pages:
10
Royal Helium (“RHC”) announced the signing of termsheets on 21st December for a six year non-revolving credit facility of C$15mm from the Business Development Bank of Canada and a “Schedule 1” bank at a rate of 3% above the Prime Lending Rate (currently 6.5%). Additionally, a revolving working capital facility of C$2.5mm at 2% above Prime at a time when mezzanine debt would incur a rate of 15-20%. The net proceeds will be used to fund capital expenditures related to the Steveville production fac ....