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Resolute Energy lifts revolver to $1 billion, extends maturity to 2017
By Marisa Wong
Madison, Wis., April 16 - Resolute Energy Corp. entered into a third amendment to its second amended and restated credit agreement with Wells Fargo Bank, NA as administrative agent on April 13, according to an 8-K filing with the Securities and Exchange Commission.
The amendment increases the size of the revolving credit facility to $1 billion from $500 million and extends the maturity date to April 2017 from March 2014.
Interest was also reduced to Libor plus 150 basis points to 250 bps from Libor plus 175 bps to 275 bps.
The borrowing base remains at $330 million.
The credit agreement was originally dated March 30, 2010 and was amended on April 18, 2011 and April 25, 2011.
Resolute is a Denver-based independent oil and gas company.
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