Corcel Regulatory News (CRCL)

Caracal Secures US$140 million in Debt Financing CALGARY, April 7, 2014 /CNW/ - Caracal Energy Inc. ("Caracal" or the "Company")(LSE:CRCL), through its wholly owned subsidiary PetroChad Mangara Limited, ispleased to announce that it has signed a US$140 million Reserve Based SeniorSecured Facility (the "Facility") with a syndicate of lenders led by Natixisand Société Generale Corporate & Investment Banking as Initial Mandated LeadArrangers and Bookrunners and ING Bank as Mandated Lead Arranger. In addition,Caracal has an option to increase the Facility by up to an additional US$110million subject to receipt of further lender commitments. The Facility has afinal maturity date of March 31, 2017. The Facility is devoted to the development of the Company's assets in theRepublic of Chad ("Chad"). Trevor Peters, Chief Financial Officer for Caracal commented today : "We are very pleased to have successfully completed these arrangements whichwill augment our working capital position over the next two years and inconjunction with our early operating cash flows this will provide a solidfoundation for funding the expansion of our development projects in Chad. Thesupport we received from the lending banks demonstrates the underlyingconfidence in our producing assets as well as the business environment inChad." Sylvain Sarda, Head of Upstream Finance, Oil Independents & Mining, at Natixiscommented : "Natixis is proud having closed with Société Generale this major transactionfor Caracal which is also a milestone for Chad oil industry and the RBL spacein Africa. Caracal is a young company with promising growth potential and weare keen supporting the business further." Christophe Roux, Head of Reserve Based Finance, EMEA & CIS, at Société GeneraleCorporate & Investment Banking, commented : "Caracal Energy is an important client for Société Generale and we aredelighted to have led (along with Natixis), the inaugural bank financing forthe Company. The Company has an attractive portfolio of assets, which providesit with significant growth potential, and a very reputed and experiencedmanagement. We look forward to continuing our support of the Company and itsgrowth strategy." About Caracal Energy Inc. Caracal Energy Inc. is an international exploration and development companyfocused on oil and gas exploration, development and production activities inthe Republic of Chad, Africa. In 2011, the Company entered into threeproduction sharing contracts ("PSCs") with the government of the Republic ofChad. These PSCs provide exclusive rights, along with its partners, to exploreand develop reserves and resources over a combined area of 26,103 km2 insouthern Chad. The PSCs cover two world-class oil basins with oil discoveries,and numerous exploration prospects. The Company's shares trade on the London Stock Exchange under the symbol CRCL. SOURCE: Caracal Energy Inc. For further information: Caracal Energy Inc.Gary Guidry, President and Chief Executive OfficerTrevor Peters, Chief Financial Officer+1 403-724-7200 Longview Communications - Canadian Media EnquiriesAlan Bayless +1 604-694-6035Joel Shaffer +1 416-649-8006 FTI Consulting - UK Media EnquiriesBen Brewerton / Ed Westropp+ 44 (0) 20 3727 1000caracalenergy.sc@fticonsulting.com (CRCL)