Chaparral Energy to get minimum $450 million revolver with CCMP Capital Advisors investment

By Sara Rosenberg

New York, March 24 - Chaparral Energy Inc. has to enter into a new at least $450 million senior revolving credit facility as part of its acquisition agreement with CCMP Capital Advisors LLC, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Under the agreement, CCMP is acquiring a significant ownership stake in Chaparral for $345 million.

Another condition to the acquisition is that Chaparral have $270 million of minimum liquidity from borrowing availability under the new revolver and cash on hand.

Chaparral is an Oklahoma City-based independent oil and natural gas production and exploitation company.

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