Remington Oil and Gas gets $200 million amended revolver

By Sara Rosenberg

New York, Sept. 15 - Remington Oil and Gas Corp. closed on a $200 million, four-year amended revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Thursday.

The initial borrowing base under the revolver is $150 million and the current commitment amount is $100 million.

Fortis Financial Corp., Toronto Dominion LLC, Union Bank of California and Bank of Scotland are the lead banks on the deal, with Fortis acting as administrative agent.

The facility, which was completed on Sept. 9, is secured by a mortgage on the company's top ten oil and properties in terms of value.

This amended revolver replaces the facility that was previously in place.

Remington is a Dallas-based independent oil and gas exploration and production company.

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