Rusty Hutson, chief executive of Diversified Gas & Oil plc (LON:DGOC), tells Proactive they've negotiated a new US$500mln debt facility at less than half the cost of their previous arrangement.
The five-year senior secured revolving credit facility has been led by Key Bank and will carry an interest rate of Libor + 2.5%-3.25% compared to Libor +8.5% currently.
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