Touchstone expands credit facility to $30mn
London-listed Touchstone Exploration has expanded its credit facility by $10mn to $30mn, the company announced on December 22.
Touchstone, which has made a number of onshore gas discoveries in Trinidad, currently has drawn only $15mn of the facility but expects to draw the rest by the end of the year.
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The senior secured syndicated loan has a seven-year term until June 15, 2027, with a fixed interest rate of 7.85%. The initial lender is Republic Bank Limited.