Obsidian Energy amends credit agreement with RBC, BMO, ICBC Standard Bank effective Aug. 4, 2026
Bitget2026/09/23 21:01- Obsidian Energy entered a second amending agreement effective Aug. 4, 2026, updating its April 28, 2026 credit agreement.
- Royal Bank of Canada, Bank of Montreal, ICBC Standard Bank serve as lenders; RBC acts as agent.
- Amendment expands “2025 Notes” to include 8.125% senior unsecured notes due Dec. 3, 2030 issued on Dec. 3, 2025, July 22, 2026.
- Permitted Junior Debt cap reset at CAD 350 million; may be unsecured or second-lien, subject to a second-lien intercreditor agreement.
- Distributions or junior-debt prepayments tightened; requires total debt-to-EBITDA at or below 1.5, undrawn availability at least 20%.
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