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BRIEF-Erin Energy enters into pre-export finance facility agreement with Mauritius Commercial Bank
February 9, 2017 / 11:48 AM / in 8 months

BRIEF-Erin Energy enters into pre-export finance facility agreement with Mauritius Commercial Bank

Feb 9 (Reuters) - Erin Energy Corp

* On Feb 6, co and unit entered into a pre-export finance facility agreement with the Mauritius Commercial Bank Limited

* Erin Energy Corp- Finance facility provides for a total commitment of $100.0 million- SEC filing

* Erin Energy Corp - In connection with facility, EPNL entered into an exclusive off-take contract with Glencore Energy UK Ltd. dated January 18, 2017

* Erin Energy Corp- EPNL may make drawdowns under finance facility by way of loans and/or letters of credit until June 30, 2017

* Erin Energy - Off-take contract with Glencore Energy UK for EPNL’s volumes of oil produced from oil mining leases 120, 121 located offshore Nigeria

* Erin Energy - Co's unit EPNL is required to deposit $10.0 million at closing of finance facility into debt service reserve account with Mauritius Commercial Bank Source: (bit.ly/2lnAqIB) Further company coverage:

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