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Pieridae Energy Ltd T.PEA

Alternate Symbol(s):  PTOAF

Pieridae Energy Limited is a Canadian energy company. The Company is an upstream producer and midstream custom processor of natural gas, natural gas liquids, condensate, and sulphur from the Canadian Foothills and adjacent areas in Alberta and in northeast British Columbia (BC). It owns and operates three sour gas processing complexes at Waterton, Caroline and Jumping Pound. Its footprint covers over a million gross acres (807,000 net acres) in the Foothills and makes up conventional gas reservoirs in North America. Across Alberta and British Columbia, its footprint stretches over one million gross acres of land, with ownership of three deep cut gas plants and more than 3,800 kilometers of pipelines. Its foothills include the southern foothills, central foothills and northern foothills. Its southern foothills have three main fields: Waterton, Carbondale, and Burmis. The Company also has a production facility in the Northern Foothills of Alberta and in Northern BC.


TSX:PEA - Post by User

Post by downwithdotcom1on Jun 15, 2023 5:08pm
273 Views
Post# 35498942

new financing ...

new financing ...financing details see below ...note: current SOFR was 5.05% on June 14, 2023 meaning the $120 mill USD portion roughly 12%,  close to the $30 mill portion bearing
13%. Did i not read somewhere that their CURRENT cost of capital was closer to 30%??  Anyone validate  or have additional comments pleae post....dwdc


  • A USD $120 million 45-month senior secured credit facility (the “Senior Facility”) that bears interest at Secured Overnight Financing Rate (“SOFR”) + 6.75%, consisting of (i) a USD $25 million revolving loan, (ii) a USD $85 million amortizing term loan, and (iii) a USD $10 million delayed-draw amortizing term loan.
  • A USD $30 million 51-month subordinated term loan (the “Subordinated Notes”) that bears interest at a 13% fixed rate.

PEL has also secured a CAD $20 million senior secured 18-month term loan (the “Bridge Term Loan”) from Third Eye Capital Corporation (“TEC”), the proceeds of which have been contributed to PAPL for general corporate purposes and repayment of indebtedness.

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