CALGARY, March 7 /PRNewswire/ - MEG Energy Corp. ("MEG")
(TSX: MEG) today announced that it intends to refinance its
existing term loan B and term loan D senior secured credit
facilities and expand its senior secured revolving credit
facilities from US$200 million to US$500
million, all through an amendment of its existing credit
agreement. The transaction is expected to be completed concurrently
with its previously announced senior notes offering.
This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such an offer, solicitation, or sale would be unlawful.
About MEG
MEG is focused on sustainable in situ oil sands
development and production in the southern Athabasca region of Alberta, Canada. MEG is actively developing
enhanced oil recovery projects that utilize SAGD extraction
methods.
Caution Regarding Forward-Looking Information
This news release may contain forward-looking information
including but not limited to the amendment of MEG's current credit
facilities. Such forward-looking information is based on certain
assumptions and analysis made by MEG in light of its experience and
perception of current conditions and expected future developments
as well as other factors it believes are appropriate in the
circumstances. However, whether actual results, performance or
achievements will conform to MEG's expectations and predictions is
subject to a number of known and unknown risks and uncertainties
which could cause actual results to differ materially from MEG's
expectations.
SOURCE MEG Energy Corp.