Texas American gets $15 million term loan, amends existing loan

By Sara Rosenberg

New York, Nov. 3 - Texas American Resources Co. closed on a new $15 million first-lien first-out term loan due June 2012 and an amendment to its existing $160 million first-lien term loan, according to a news release.

Proceeds from the new term loan will be used to accelerate the company's development capital expenditure program and to repay accrued interest.

Texas American is an Austin, Texas-based energy company.

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