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BRIEF-Saturn Oil & Gas Announces $20 Mln Senior Secured Note Facility With Prudential Capital Group

Published 2018-09-14, 01:48 p/m
© Reuters. BRIEF-Saturn Oil & Gas Announces $20 Mln Senior Secured Note Facility With Prudential Capital Group
SOIL
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Sept 14 (Reuters) - Saturn Oil & Gas Inc SOIL.V :

* ANNOUNCES USD $20 MILLION SENIOR SECURED NOTE FACILITY WITH PRUDENTIAL CAPITAL GROUP

* SAYS SATURN HAS ELECTED AND QUALIFIED FOR INITIAL ISSUANCE OF NOTES EQUAL TO APPROXIMATELY USD $4.6 MILLION

* SAYS TO USE MAJORITY OF PROCEEDS TO EXPAND DEVELOPMENT OF VIKING LIGHT OIL & SUCCESS HEAVY OIL ASSETS IN WEST-CENTRAL SASKATCHEWAN

* SAYS PORTION OF NET PROCEEDS OF INITIAL NOTE ISSUANCE WILL ALSO BE USED TO RETIRE CERTAIN OF COMPANY'S EXISTING AND HIGHER INTEREST DEBT

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