Ithaca Energy repays $300 million notes due 2019 via new loans

By Susanna Moon

Chicago, Oct. 17 – Ithaca Energy Inc. said it repaid its $300 million senior notes due July 2019 using proceeds of new loans.

The company refinanced its debt through new debt facilities consisting of a $400 million reserves-based lending facility due December 2022 and a $300 million five-year second-lien term loan.

“These facilities provide the company with a simple and lower cost long term debt capital structure and a strong financial platform from which to continue delivering upon the growth objectives of the business,” according to a press release.

Ithaca Energy is an Aberdeen, Scotland-based oil and gas exploration, development and production company.

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