EXCO Resources amends credit agreement to lift permitted cash dividend

By Jennifer Chiou

New York, July 18 – EXCO Resources, Inc. entered into an amendment to its credit agreement with JPMorgan Chase Bank, NA as administrative agent, increasing the amount of permitted cash dividends to holders of EXCO’s common stock to $75 million from $50 million, according to an 8-K filing with the Securities and Exchange Commission.

The changes also include amendments to, among other things, certain definitions, representations, warranties and covenants and certain non-financial covenants.

The $75 million limit applies to any period of four consecutive fiscal quarters.

EXCO is a Dallas-based oil and natural gas company.

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