Resolute Energy amends facility to up borrowing base to $310 million

By Marisa Wong

Morgantown, W.Va., Sept. 17 – Resolute Energy Corp. entered into a fourth amendment on Sept. 14 to its third amended and restated credit agreement dated Feb. 17, 2017 to adjust the borrowing base to $310 million from $210 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also modifies the calculation of EBITDA to provide for annualization of quarterly EBITDA through the second quarter of 2019 and makes other changes to accommodate the future refinancing of Resolute Energy’s existing 8˝% senior notes due 2020.

The syndicate of banks under the credit agreement is led by Bank of Montreal, as administrative agent, Capital One, NA as syndication agent and Barclays Bank plc, ING Capital LLC and SunTrust Bank as co-documentation agents.

The independent oil and natural gas exploration and production company is based in Denver.

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