MEG Energy seeks revolver amendment to revise size and maturity

By Sara Rosenberg

New York, March 15 - MEG Energy Corp. is looking to amend its revolving credit facility to increase the size to $1 billion from $500 million and extend the maturity by one year to 2017, according to a news release.

In addition, the amendment is expected to reduce pricing on the loan.

Lender consents are due on Friday and a 10 basis points amendment fee is being offered, a market source said.

Barclays Capital Inc. and BMO Capital Markets Corp. are the joint lead arrangers and bookrunners on the deal.

MEG Energy is a Calgary, Alta.-based oil sands development company.

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