Aurora gets $50 million second-lien term loan

By Sara Rosenberg

New York, Aug. 22 - Aurora Oil & Gas Corp. closed on a new $50 million second-lien term loan, according to a company news release.

BNP Paribas acted as the lead bank on the deal that is effective as of Aug. 20.

Proceeds were used to repay all outstanding amounts under the company's project financing line provided by TCW.

In connection with the term loan, the company amended and restated its existing senior secured credit facility to increase the borrowing base to $70 million.

Aurora is a Traverse, Mich.-based independent energy company.

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