Atlas Energy amends loan, setting borrowing base, changing pricing

By Sara Rosenberg

New York, April 17 - Atlas Energy Resources LLC amended its credit facility, setting the borrowing base at $650 million and adjusting pricing, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Pricing on the facility can now range from Libor plus 200 basis points to 300 bps, based on amounts drawn.

In addition, the amendment requires the company to cash collateralize current letter-of-credit exposure upon a lender's default.

JPMorgan is the administrative agent on the deal.

The amendment was effective on April 9.

Atlas Energy is a Moon Township, Pa.-based developer and producer of natural gas and oil.

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