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BRIEF-Penn West says transitioned to a reserve-based syndicated revolving credit facility

May 18 Penn West Petroleum Ltd:

* Penn West closes new reserve-based credit facility

* Transitioned to a reserve-based syndicated revolving credit facility with a group of nine lenders

* Initial revolving period of credit facility ends on May 17, 2018

* Underlying borrowing base is $550 million, less amount of outstanding pari passu senior notes

* Credit facility has additional 1 year term out period, is subject to semi-annual borrowing base redetermination in May, Nov of each year Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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