Rice Energy amends facility, permitting note sale, extending maturity

By Sara Rosenberg

New York, April 11 - Rice Energy Inc. entered into an agreement to amend its credit facility to allow for the issuance of notes and extend the maturity to Jan. 29, 2019 from April 25, 2018, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Also, the amendment provides that the credit facility borrowing base will remain at $350 million.

Proceeds from the $750 million senior notes offering will be used to repay and retire the company's second-lien term loan and for general corporate purposes, including capital expenditures.

Wells Fargo Bank is the administrative agent on the credit facility.

The amendment was completed on April 10 but will become effective when the notes offering is completed.

Rice Energy is a Canonsburg, Pa.-based natural gas and oil company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.