November 22, 2016 / 10:57 PM / in a year

BRIEF-Savanna announces concurrent debt financing, private placement and bought deal financing

Nov 22 (Reuters) - Savanna Energy Services Corp -

* Entered agreement with Alberta Investment Management Corporation (AIMCO) providing for $200 million second lien senior secured term loan facility

* Agreements also providing for private placement of 13 million common shares of Savanna at a price of $1.45 per common share

* Agreed to issue to AIMCO, on first draw under term loan, an aggregate of 7 million warrants to purchase common shares

* Negotiated repurchase of about $62.5 million of 7.00 percent senior unsecured notes due May 25, 2018 at price of 101 percent of principal amount thereof

* Savanna announces concurrent debt financing, private placement and bought deal financing Source text for Eikon: Further company coverage:

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