GREY:CEQXF - Post by User
Post by
mike49on May 05, 2018 4:38pm
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Post# 27987653
A note about the credit
A note about the creditThe revolver is currently at 12 mil with renewal end of May.it should still be undrawn but no guarantee bank will renew at that level after asset sale and problems bringing new wells online.
to me,only important because that is the 'keep the lights on' insurance.
hard to say what cppib is up to.they simply may be trying to hedge their bets with investments.think how large they are into seven gen and some of the private cos up there.they may simply want to extort a large standby fee (like they currently have) or have a personality problem with (past) mngt.
The covenants on the senior notes and the uncertainty regarding renewal (leading to the "going cercern" tag)is certainly a drag.
Onward