Monday 17 December 2018

Siccar Point Energy has signed an agreement with its existing syndicate of banks to increase and extend its existing Reserves Based Lending Facility (“RBL”). Key features are:

- Increase in facility limit from $600 million to $800 million. Availability under the RBL has also increased to over $700 million.

- Final maturity extended to 2025 (from 2023), restoring original seven-year maturity.

- Increased ability to issue additional subordinated debt.

- All Siccar Point Energy’s existing banks participated in the increase.