Foothills Resources amends loan, waiving covenant compliance, modifying pricing

By Sara Rosenberg

New York, May 22 - Foothills Resources Inc. amended its credit facility, waiving compliance with certain covenants for the quarter ended March 31 and changing term loan pricing to Libor plus 400 basis points, according to an 8-K filed with the Securities and Exchange Commission Thursday.

The amendment was completed on May 15.

Wells Fargo Foothill is the agent on the deal.

Foothills is a Bakersfield, Calif.-based acquirer, explorer and developer of oil and natural gas properties.

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