Ivanhoe Energy Establishes $50M Secured Loan Financing

Ivanhoe Energy Inc.

today announced it entered into a $50 million short-term secured credit agreement consisting of an initial tranche of $30 million, fully underwritten by UBS AG, Canada Branch. The agreement also contains a $20 million accordion feature that can be exercised by the company, if required. The loan, which was exclusively arranged by UBS Securities, will mature after 12 months and involves customary terms and covenants for a transaction of this nature.