On March 28, 2008, Petro-Canada completed the amendment and restatement of its two syndicated credit facilities, including an increase in the available amount to $4 billion. The facilities will be used for general corporate purposes, including to act as liquidity support for Petro-Canada's commercial paper program and to repay other debt. The original facilities replaced the series of committed bilateral credit facilities Petro-Canada had in place, as well as a component of the acquisition credit facilities Petro-Canada established to fund the purchase of Veba Oil & Gas GmbH in 2002 for $3.2 billion.
Separate facilities, domestic and international, were established to support Petro-Canada's North American and international activities.
Petro-Canada was represented in-house by Harvey Steblyk, counsel, and assisted by Bill Jenkins and Stephanie Campbell of Fraser Milner Casgrain LLP.
The lenders were represented by John Wilmot and David Grout of Burnet, Duckworth & Palmer LLP.
The lenders and Petro-Canada were represented with regard to certain US legislation applicable to Petro-Canada's international operations, by J. Scott Maberry and Marilyn Mooney of Fulbright & Jaworski L.L.P.
Separate facilities, domestic and international, were established to support Petro-Canada's North American and international activities.
Petro-Canada was represented in-house by Harvey Steblyk, counsel, and assisted by Bill Jenkins and Stephanie Campbell of Fraser Milner Casgrain LLP.
The lenders were represented by John Wilmot and David Grout of Burnet, Duckworth & Palmer LLP.
The lenders and Petro-Canada were represented with regard to certain US legislation applicable to Petro-Canada's international operations, by J. Scott Maberry and Marilyn Mooney of Fulbright & Jaworski L.L.P.
