A cash payment can be only part of the price. A lower lending spread can still come with strings.
Trio’s well deal has more than a cash price
Trio Petroleum disclosed on September 30 that its Canadian subsidiary signed a September 25 agreement with Marlin Resources, which operates in Saskatchewan’s Lloydminster region.
The package covers interests in 24 oil wells: four producing and 20 shut in. Consideration includes C$800,000 cash, transfers of certain assets and agreement interests, and a water-disposal agreement.
That makes the cash figure one piece of the bargain. And this is a signed agreement: the filing lists closing conditions and does not confirm completion.
Trio’s September 30 SEC filing
September 30 financing update: goeasy trims its spread
Canadian lender goeasy renewed its revolving securitization warehouse facility, effective September 29. Its September 30 announcement puts the spread over Adjusted Daily Compounded CORRA at 275 basis points, down from 310.
That’s a 35-basis-point reduction in the spread, not an all-in borrowing rate.
Further borrowing for new loans must meet the facility’s covenants, eligibility rules and borrowing-base requirements. For earlier loans, goeasy also needs its revolving credit facility extended through at least July 18, 2028, and lenders must receive and accept a forecast.
Better pricing is one part of the story; meeting the draw conditions is another.
goeasy’s September 30 announcement, via CNW/TMCnet
For information and education, not advice for a specific transaction or a prediction of value.
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