| Robert Hodgins |
Royal Bank of Canada is in the market with a $220 million bridge financing to support Pengrowth Energy Trust's C$550 million acquisition of certain Canadian oil and gas assets of Murphy Oil Corp. In addition to the bridge loan, the remainder of the funds will come from an increase to Pengrowth's existing C$200 million revolver. Robert Hodgins, Pengrowth's cfo, declined to comment on price talk. The revolver is currently syndicated amongst eight financial institutions. "Those are the ones we expect to be able to syndicate the additional C$100m and other C$220 million facility," noted Hodgins. The revolver syndicate is led by RBC and made up of CIBC World Markets, Bank of Montreal, Bank of Nova Scotia, Toronto Dominion Bank, Alberta Treasury Branch, HSBC and National Bank Financial. A RBC banker declined comment. Pengrowth is a Canadian oil and gas producer.