12:42 PM EDT, 03/27/2026 (MT Newswires) -- Meren Energy ( MRNFF ) on Friday said its Meren Cooperatief U.A. unit refinanced its reserves base lending (RBL) facility, significantly increasing its debt capacity and extending its debt maturity profile.

The company said the refinanced RBL facility will have a total commitment of US$600 million with an accordion feature permitting an increase in the total facility size up to US$1 billion. Proceeds from the amended facility will be used to refinance in full the existing facility and to cover all related costs.

The amended facility will accrue interest at the applicable Secured Overnight Financing Rate rate plus a margin of 4.00% during years one to three, increasing to 4.25% during years four to six. The amended facility has a six-year tenor from the closing of the refinancing.

As at Dec. 31, the company said it had available RBL capacity of US$468 million with outstanding principal of US$330 million under its existing facility terms. On closing of the amended facility, Meren's expected RBL capacity will increase to $574 million with outstanding principal of $370 million.

Shares of the company were last seen up $0.09 to $2.36 on the Toronto Stock Exchange.

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