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Sundance Energy Australia Closes US$300m Credit Facility with Wells Fargo

02 Jan 2013  |  12:16:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: US$300 Million Credit Facility with Wells Fargo

Sundance Energy Australia announced that on 31 December 2012 in the US, the company closed a new US$300m senior credit facility with Wells Fargo with a five-year term. The initial borrowing base amount, based on an evaluation of the company's proved reserves as of 30 September 2012, is US$30m, of which US$15m was used to repay and retire its outstanding loan with Bank of Oklahoma.

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