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Pacific Rubiales to get $200 million revolver led by Bank of America
By Sara Rosenberg
New York, Feb. 17 - Pacific Rubiales Energy Corp. is planning a new $200 million two-year senior unsecured revolving credit facility, according to a news release.
Bank of America is the lead arranger on the deal.
The syndicate for the revolver is expected to be composed of both international and local Colombian lenders.
Pricing on the revolver will depend on ratings assigned to the company's senior debt securities by Standard & Poor's and Fitch.
Proceeds will be used to replace existing credit facilities and will also be available for general corporate purposes.
Closing is expected to occur on or before March 31, subject to syndication and all required documentation.
Pacific Rubiales is a Toronto-based producer of natural gas and heavy crude oil.
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