MEG Energy gets lender OK on amendment to up revolver to $1 billion

By Sara Rosenberg

New York, March 19 - MEG Energy Corp. has received approval of its revolving credit facility amendment that will increase the size to $1 billion from $500 million and extend the maturity by one year to 2017, according to a market source.

In addition, the amendment reduces pricing on the loan.

Lenders were offered a 10 basis points amendment fee.

Consents were due this past Friday.

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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