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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: monu who wrote (16284)	8/30/2002 2:06:35 PM
From: monu	Respond to of 23153

From Pgo's 2nd q release: During March 2002, we entered into a $250.0 million short-term credit facility, which was amended and restated in May 2002. The net proceeds from this credit facility were used to repay $225.0 million of senior unsecured notes (which matured in March 2002) and for general corporate purposes. The facility matures in June 2003. We must make a mandatory pre-payment on the facility of $175.0 million from the proceeds of any Atlantis sale. The credit facility carries a current interest rate equal to LIBOR plus a 4.5% margin. We are required to limit our future capital expenditures and multi-client library investments to a maximum of $280.0 million for the period from July 1, 2002 through the maturity date. Additionally, we are obligated to use our best efforts to arrange financing and repay such amounts prior to the maturity date. At June 30, 2002, we had $70.0 million available under our $430.0 million committed revolving credit facility. This unsecured revolving credit facility bears interest at a LIBOR-based rate plus a margin of either 0.35% per year or 0.40% per year