CGGVeritas Announces Amendments to the US Senior Facilities Agreement and French Revolving Facility Agreement
May 27 2009 - 11:59PM
Business Wire
Regulatory News:
CGGVeritas (ISIN: 0000120164 � NYSE: CGV) announced today the
amendment�on May 21, 2009 of its US senior�facilities agreement and
on May 27, 2009�of its French revolving facility agreement. These
amendments are in line with�CGGVeritas conservative financial
policy. They were aimed mainly at increasing the Company's headroom
under the financial covenants in its existing credit
facilities.
In consideration of these amendments,�CGGVeritas repaid $100
million of its term loan B under the US senior facilities�and
increased the applicable margin for all borrowings under the US
senior facilities and French revolving facility by 1.0%.
About CGGVeritas:
CGGVeritas (www.cggveritas.com) is a leading international
pure-play geophysical company delivering a wide range of
technologies, services and equipment through Sercel, to its broad
base of customers mainly throughout the global oil and gas
industry. CGGVeritas is listed on the Euronext Paris SA (ISIN:
0000120164) and the New York Stock Exchange (in the form of
American Depositary Shares, NYSE: CGV).
The information included herein contains certain forward-looking
statements within the meaning of Section 27A of the securities act
of 1933 and section 21E of the Securities Exchange Act of 1934.
These forward-looking statements reflect numerous assumptions and
involve a number of risks and uncertainties as disclosed by the
Company from time to time in its filings with the Securities and
Exchange Commission. Actual results may vary materially.
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