CAD 75만 RBL 및 기존 대출 정산
월 25 2024
i3 에너지 PLC
("i3", "i3 Energy" 또는 "회사")
Establishment of a CAD 75 Million Reserve-Based Credit Facility and Settlement of Existing Loan Facility
i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the successful establishment of a reserve-based lending facility (the "신용 시설"). The new Credit Facility marks a significant step in transitioning i3's capital structure, enhancing the Company's financial flexibility through improved liquidity and enabling acceleration of its growth and income-based business plan.
하이라이트:
· New Credit Facility: A new CAD 75 million reserve-based senior secured credit facility with a Canadian chartered bank, comprised of a CAD 55 million revolving facility and a CAD 20 million operating loan facility.
· Settlement of Existing Loan Facility: Repayment of approximately CAD 57 million, representing the outstanding balance of i3 Energy's existing CAD 75 million loan facility (the "차관") with Trafigura Canada Ltd., a subsidiary of Trafigura Pte Ltd ("Trafigura").
· Removal of Amortisation Schedule: The new Credit Facility, unlike the Loan, is non-amortising and releases CAD 25 million per annum, which the Company will deploy in its production growth initiatives.
· Pro Forma Positioning: An estimated year-end 2023 net debt of approximately USD 23 million (CAD 30.5 million) (unaudited), together with forecast cash flow, positions the Company with significant liquidity to contribute to its growth and income strategies.
i3 Energy plc의 CEO인 Majid Shafiq는 다음과 같이 말했습니다.
"We are very pleased to have re-financed our existing Loan with a traditional reserve-based lending facility provided by a major Canadian chartered bank with a long history of financing the country's oil and gas industry. The non-amortising structure of the facility has an immediate benefit in increasing liquidity, which we can deploy in high return growth initiatives. This is a very positive validation of the strength of our underlying portfolio, and we look forward to building our new financial relationship in a mutually beneficial manner as we expand and grow our Canadian operations.
We maintain an extremely positive working relationship with Trafigura, and the expansion of our commercial dealings with a range of sophisticated debt capital market investors attests to the quality of our portfolio, staff, and the success of our development operations in Canada over the last several years."
The establishment of a CAD 75 million senior secured revolving credit facility with a Canadian chartered bank was utilized to settle the Company's existing CAD 75 million Loan facility with Trafigura, without prepayment penalty, of which approximately CAD 57 million was outstanding at the time of the repayment. Secured against substantially all the assets and shares of i3 Energy Canada Ltd., the new Credit Facility, comprised of a CAD 55 million revolving facility and a CAD 20 million operating loan facility, has been established for i3 Energy's wholly owned subsidiary, i3 Energy Canada Ltd. The two-year term of the new Credit Facility is expected to be extended on an annual basis, subject to lender approval.
The Company has initially drawn down approximately CAD 27 million on the new Credit Facility, which was used, along with cash on hand, to repay the Trafigura Loan. The interest rate on the outstanding portion of the revolving facility depends on certain ratios and at inception will be Canadian Prime Rate plus 2.00%, with the option to change to Canadian Overnight Repo Rate plus 3.00% should it be more favourable to do so. The balance of undrawn credit will be available for general corporate purposes, including working capital requirements, acceleration of organic growth from i3's proven portfolio of development drilling locations, and to fund accretive acquisition opportunities.
The refinanced capital structure provides greater financial flexibility by unlocking the Company's significant working capital surplus and enhances its free cash flow profile through the elimination of the previously managed three-year, CAD 25 million per annum, straight-line amortization schedule. With this refinancing, the Company now has the ability to accelerate development of its extensive inventory of development locations to enhance shareholder value.
Following the establishment of the new Credit Facility, the Company plans to release its 2024 capital budget in mid-April. The Company will remain disciplined with its conservative approach to debt management, as it looks to balance stable, predictable, growth, along with its ongoing dividend program.
Norton Rose Fulbright Canada acted as legal counsel to i3 in relation to the refinancing.
Year-End 2023 and 2024 Quarterly Financial Reporting
As the Company's Canadian shareholding has now increased beyond 10%, i3 is no longer a designated foreign issuer and therefore is no longer eligible for TSX continuous disclosure exemptions previously granted through National Instrument 71-102. As such, the Company will commence issuing TSX required quarterly financial reports for Q1 2024, including a Management Discussion and Analysis (MD&A). Additionally, as i3 transitions to this reporting schedule, an Annual Information Form (AIF) will be included as part of the Company's 2023 year-end financial statements which will be issued in mid-April
END
문의 :
i3 에너지 PLC 마지드 샤피크 (CEO) | c/o 카마르코 전화 : + 44 (0) 203 757 4980
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WH Ireland Limited(노매드 및 조인트 Broker) 제임스 조이스, Darshan Patel, Isaac Hooper |
전화 : + 44 (0) 207 220 1666
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테니슨증권(공동 Broker) 피터 크렌스 |
전화 : + 44 (0) 207 186 9030
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Stifel Nicolaus Europe Limited(공동 Broker) 애쉬튼 클랜필드, 칼럼 스튜어트 |
전화 : + 44 (0) 20 7710 7600
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카마르코 앤드류 터너, 바이올렛 윌슨, 샘 모리스 |
전화 : + 44 (0) 203 757 4980 |
편집자 참고 사항 :
i3 Energy는 저비용, 다각화되고 성장하는 생산 기반을 갖춘 석유 및 가스 회사입니다. 캐나다 가장 풍부한 탄화수소 지역인 서부 캐나다 퇴적 분지 및 북해의 평가 자산은 상당한 상승세를 보입니다.
회사는 기존 자산 기반의 최적화와 수명이 길고 감소율이 낮은 기존 생산 자산의 인수를 통해 미래 성장을 제공할 수 있는 유리한 위치에 있습니다.
i3는 책임 있는 기업 관행과 환경에 전념하며 강력한 환경, 사회 및 거버넌스를 준수하는 데 높은 가치를 둡니다. ("ESG") 관행. i3는 지금까지 환경, 사람,, 및 자본 관리. 회사는 이러한 혜택이 규제 요건을 넘어 확장되기 때문에 장기적인 가치 창출에 더 광범위한 영향을 미치는 ESG 전략을 유지하기 위해 최선을 다하고 있습니다.
i3 Energy는 런던 증권 거래소의 AIM 시장에 I3E 기호로, 토론토 증권 거래소에 ITE 기호로 상장되어 있습니다. i3 Energy에 대한 자세한 내용을 보려면 다음 사이트를 방문하세요. https://i3.energy
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