Bullboard - Stock Discussion Forum Bonterra Energy Corp T.BNE

Alternate Symbol(s): BNEFF

Energy Oil & Gas E&P

Bonterra Energy Corp. is a Canada-based conventional oil and gas company with operations in Alberta, Saskatchewan, and British Columbia. The Company operates through development and production of oil and natural gas in the Western Canadian Sedimentary Basin segment. Its operating areas include Pembina Cardium and other areas, which include Saskatchewan and Northeast British Columbia. The... see more

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Bonterra Energy Corp > Anticipating Banking Renewal

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Post by snowshoedb on Nov 23, 2022 8:09am

Anticipating Banking Renewal

Looking forward to the new banking relationship that should be forthcoming soon. Specifically looking to see if they term some debt out at favorable rates. More importantly will they be able to get rid of the "No Dividend" restriction in the new agreement.

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Comment by Hendrick3 on Nov 23, 2022 5:38pm

Lots of options and I agree it will be interesting. One big issue is that they have a significant sum of money that they borrowed from the government at very preferential rates. You might recall that OBE tried to buy them before they signed that deal so as to maintain the freedom to pay dividends or do share buy backs. Both of these are prohibited under the government loan. The offset to that is ...more

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Comment by Hendrick3 on Nov 23, 2022 6:14pm

Just had a quick look at the government debt. Loan from BDC for $45 million due October 2024. Loan from EDC for $38 million expires March 2023. Based on that the $45 BDC debt is the one that will be hard to give up and I believe it has the no divy or buyback condition.

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