Canadian Overseas Petroleum Ltd's (LON:COPL) Arthur Millholland talks Proactive London through the inked a term sheet for US$65mln of debt financing that will facilitate its acquisition of US onshore producer Atomic Oil and Gas LLC.
The arrangement, for a senior credit facility, is with a US-based global investment firm. It will have a four-year duration and COPL described the terms as competitive whilst noting that it is subject to typical lending conditions.