Osage Exploration and Development Inc. - 2014-04-03


Entered into a new drawdown credit facility with Apollo Investment Corp. Existing credit facility’s interest rate is 25% lower than the one in the previous credit facility with Apollo. Loan covenants were reset. The cost of capital decreased to Libor plus 11%, down from Libor plus 15%. Osage did not issue any additional warrants or equity.

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