Perpetual's Proposed Financing is Credit Positive
Toronto, February 17, 2017-- On February 17, 2017, Perpetual Energy Inc. announced its intention to issue a CAD45 million second lien senior secured term loan provided by Alberta Investment Management Corporation, and raise CAD9 million through an equity issuance, with AIMCo and Perpetual insiders agreeing to each purchase 50% of the shares. This is credit positive for Perpetual because credit metrics will improve. The financing will allow the company to fund the CAD70...
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