Surge Energy (TSE:SGY) has released an update.
Surge Energy Inc. has successfully completed a $175 million senior unsecured note offering at an 8.5% interest rate due in 2029, using the proceeds to fully repay its second-lien credit facility and reduce other debts. Additionally, the company has bolstered its financial flexibility by expanding its first lien revolving credit facility from $210 million to $250 million, which currently remains undrawn.
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