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Prospect News home > News index > List of issuers Q > Headlines for Quicksilver Resources Inc. > News item |
Quicksilver launches second-lien loan amendment that would up pricing
By Sara Rosenberg
New York, May 28 - Quicksilver Resources Inc. launched on Thursday an amendment to its $598 million second-lien term loan due 2013 that would increase pricing by 250 basis points as of June 30, according to an 8-K filed with the Securities and Exchange Commission.
The amendment would also relax certain asset coverage covenants through March 31, 2010.
In addition, the amendment would allow the company to incur additional pari passu debt, provided that 100% of the net proceeds of that debt are used to pay down the second-lien loan.
The company went on to say that it continues to monitor the debt capital markets in contemplation of such refinancing opportunities.
Quicksilver is a Fort Worth, Texas-based energy company.
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