Venoco amends credit facility, pushing out maturity to January 2013

By Sara Rosenberg

New York, Dec. 23 - Venoco Inc. amended its revolving credit facility, extending the maturity to Jan. 15, 2013, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

In addition, the amendment allows the company to invest up to an aggregate of $10 million through one or more unrestricted subsidiaries.

Pricing on the amended revolver can range from Libor plus 225 basis points to 300 bps based on usage, and there is a 50 bps commitment fee.

The maximum loan amount of the revolver is $300 million.

Bank of Montreal is the administrative agent on the deal.

The amendment was completed on Dec. 21.

Venoco is a Denver-based energy 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.