Enerplus increases credit facility to $900 million, adds sustainability pricing

By Wendy Van Sickle

Columbus, Ohio, April 29 – Enerplus Corp. increased its senior credit facility to $900 million and extended the maturity to Oct. 31, 2025 and added sustainability-linked performance targets with no changes to its pricing grid or covenant package, according to a press release.

The senior credit facility incorporates environmental, social and governance incentive pricing terms which reduce or increase the borrowing costs by up to 5 basis points as Enerplus' sustainability performance targets are exceeded or missed, respectively. The ESG goals of the company pertain to greenhouse gas emissions, water management and health and safety.

CIBC acted as bookrunner, lead arranger and sustainability structuring agent.

Enerplus is a gas and exploration company based in Calgary, Alta.

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