Resolute Energy amends restricted payment covenant under revolver

By Tali Rackner

Norfolk, Va., Oct. 5 – Resolute Energy Corp. entered into a 13th amendment to its revolving credit facility on Sept. 30 to amend the restricted payment covenant, according to an 8-K filing with the Securities and Exchange Commission.

The company is now permitted to pay up to $5 million annually and $20 million in aggregate in dividends on preferred stock, in addition to the existing restricted payment basket that provided for other restricted payments of up to $5 million annually and $20 million in aggregate (which two baskets may be aggregated).

The company also made other administrative amendments to the facility.

Resolute Energy is a Denver-based oil and gas company.

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