February 10, 2017 / 1:53 PM / 8 months ago

BRIEF-Transglobe Energy Corporation announces execution of prepayment agreement and marketing contract

Feb 10 (Reuters) - Transglobe Energy Corp

* Transglobe energy corporation announces execution of prepayment agreement and marketing contract

* Transglobe energy corp - signing of a us$75 million crude oil prepayment agreement

* Transglobe energy - initial advance under prepayment agreement will be used to refinance 6.00% convertible debentures of co maturing on march 31, 2017

* Transglobe energy corp - agreement between transglobe petroleum international inc. And mercuria energy trading sa of geneva, switzerland

* Transglobe energy - funding arrangement will be available for utilization on fulfillment of certain conditions, which co expects to complete in next 3 weeks

* Transglobe energy corp - also entered into a marketing contract with mercuria to market nine million barrels of tpi’s egypt entitlement production

* Funding arrangement has a term of four years, maturing march 31, 2021

* Funding arrangement is revolving with each advance to be satisfied through delivery of crude oil to mercuria Source text for Eikon: Further company coverage:

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