Forbes Energy amends loan to increase maximum to $90 million

By Jennifer Chiou

New York, Aug. 1 - Forbes Energy Services Ltd. entered into on July 26 an amendment to its loan and security agreement with Regions Bank, SunTrust Bank and Capital One Leverage Finance Corp. to the maximum borrowing credit to $90 million, according to an 8-K filing with the Securities and Exchange Commission

The filing said that the changes also decrease the revolving interest to Libor plus 200 basis points to 250 bps based on borrowing availability.

Forbes Energy Services is an Alice, Texas-based independent oilfield services company that provides drilling and production-related services to oil and natural gas companies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.