RE:Carlo2021divime1 wrote: Cardinal told National Bank to flock off .
CALGARY, Alberta, Dec. 09, 2020 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) announces it has received approval from its syndicate of lenders to extend our credit facilities ("Facilities"). The Facilities were renewed at $225 million and extend the revolving period and maturity date to May 31, 2021 and May 31, 2022, respectively. In this renewal Cardinal has received reserve based lending commitments from two new lenders, Export and Development Canada and Canadian Western Bank, while one previous lender, National Bank Financial, has been asked to exit.
Sweet! Loan sharks doesn't begin to describe the way most of the big banks treated the oil&gas producers when they were needed the most. The fact that the banks are starting to lose business now is just fine with me!