Double Eagle Petroleum amends loan, revising maturity and size

By Sara Rosenberg

New York, Oct. 26 - Double Eagle Petroleum Co. amended its credit facility, extending the maturity to Oct. 24, 2016 and increasing the size to $150 million from $75 million, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Also, pricing on the facility was reduced to a range of Libor plus 175 basis points to 275 bps based on usage.

The commitment fee ranges from 37.5 bps to 50 bps, based on use as well.

Bank of Oklahoma is the administrative agent on the deal.

The amendment was effective on Oct. 24.

Double Eagle is a Denver-based energy company.

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