Bank Line - review from Q3 results deadline apr 30 From the Q3 financials
On November 1, 2012, Legacy announced that it has entered into a subscription agreement with CII, a wholly-owned subsidiary of the CPPIB for an investment by CII in Legacy, subject to final documentation. The initial investment will be in the form of US$200 million of unsecured, five year term notes with a 7.5% coupon (the “Notes”), to be issued pursuant to a trust indenture with a Canadian trust company, with an additional US$100 million of notes available at a future date, subject to the approval of both CII and Legacy on terms to be confirmed at the time of issuance.
In addition, the Company also announced that its syndicate of lenders, led by BMO Capital Markets as Administration Agent, and The Bank of Nova Scotia and National Bank of Canada as Co-Syndication Agents and including BMO Capital Markets, The Bank of Nova Scotia, Alberta Treasury Branches, National Bank of Canada, Canadian Imperial Bank of Commerce, The Toronto-Dominion Bank and JP Morgan Chase Bank NA as lenders, has maintained the borrowing base at C$525 million after taking into account the issue of the Notes, subject to final documentation. The next annual borrowing base review is scheduled for on or before April 30, 2013.
Wheres the update???