Strathcona Resources Ltd.


Upsized its covenant-based credit facility by 67% to CA$1.5 billion, and Caltex and Stickney were amalgamated into Strathcona. Strathcona’s credit facility has a maturity date of Feb. 27, 2026, with an anticipated draw of $870 million as of March 31. Strathcona’s capital structure also includes US$500 million of 6.875% senior unsecured notes due 2026. ATB Capital Markets, BMO Capital Markets and CIBC Capital Markets were financial advisers to Strathcona on the Caltex acquisition.

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