Anvil Channel closes $ 65 million direct loan to Certus Oil & Gas
HOUSTON, July 26, 2021 / PRNewswire / – Anvil Channel Energy Solutions today announced the final closing of a US $ 65,000000,000 Senior Secured Loan Facility to Certus Oil & Gas, Inc., supporting the acquisition of generating assets in the center Alberta. This transaction marks the first cross-border transaction undertaken by Anvil Channel’s new direct energy lending initiative.
“We are delighted to have successfully executed this transformative transaction with the support of the Anvil team; Anvil’s structured creative capital solution has come at a critical juncture in our business growth cycle. ” noted Rob Brady President and CEO of Certus.
Anvil seeks to bridge the gap between bank lenders, which have largely withdrawn from the micro- and mid-cap market in the United States, and Canada, and generally more expensive mezzanine and preferred stock providers.
“We were particularly pleased to provide a liquidity solution in this still difficult energy space.” Noted Cary Meadow, Chairman and CEO of Anvil Channel. “This transaction is a perfect representation of Anvil’s thesis and mission – to provide established producers with the acquisition and development capacity they so badly need to meet their growth goals in a tight cash market.”
The proceeds from the loan were used to finance the acquisition of Sitka Exploration Ltd., providing assets that are geographically and technically complementary to the existing Certus platform.
Anvil continues to seek out strong sponsor partners with in-depth knowledge of the upstream E&P space who require acquisition, refinancing and development capital to produce assets.
Note David O’Driscoll, Co-CIO and President of Anvil Channel, “We are delighted to partner with the Certus team to support their transformative acquisition and next phase of growth. Our broad investment mandate allows us to consider supporting teams management systems proven in Canada as well as in the United States, and we are delighted to complete this first cross-border transaction as soon as possible. Echoing this sentiment, Co-CIO James Avery said: An extremely competitive alternative to other sources of capital while maintaining a comfortable price level for the Company by tailoring costs to production and cash flow and we look forward to continuing to explore new opportunities throughout the year. “
About Certus Oil and Gas Inc.
Certus is a private company that operates in the center Alberta since 2017.
About Anvil Channel
Anvil Channel Energy Solutions is a private direct lender focused on the upstream energy space. With offices in new York and Houston the company invests in narrowly limited scopes of value-driven oil and gas opportunities backed by several leading institutional investors. More information is available on its website: http://www.anvilcp.com
SOURCE Anvil Channel Energy Solutions