Zephyr Energy Lowers Borrowing Costs with Credit Facility Review

Zephyr Energy (GB:ZPHR) has released an update.

Zephyr Energy has successfully completed a semi-annual redetermination of its revolving credit facility with First International Bank & Trust, maintaining its $15.15 million credit line while securing a reduced interest rate of 10% per annum. The company’s overall borrowing has decreased to $27.4 million, contributing to a lower blended interest rate and reducing annualized interest costs by approximately $150,000. This financial maneuver underscores Zephyr’s stable growth strategy and commitment to responsible resource development.

For further insights into GB:ZPHR stock, check out TipRanks’ Stock Analysis page.