Encore Energy amends loan, changing pricing, setting borrowing base

By Sara Rosenberg

New York, March 11 - Encore Energy Partners Operating LLC amended its credit facility, revising pricing and setting the borrowing based at $240 million, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Under the amendment, pricing on the facility can now range from Libor plus 175 basis points to 250 bps and the commitment fee can range from 37.5 bps to 50 bps, based on the ratio of total outstanding borrowings to borrowing base.

The amendment was completed on March 10.

Bank of America is the administrative agent on the deal.

Encore Energy is a Fort Worth, Texas-based owner, developer, acquirer, exploiter and operator of oil and natural gas properties.

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