Roan Resources gets $100 million term loan via Cortland Capital

By Wendy Van Sickle

Columbus, Ohio, July 1 – Roan Resources, Inc. entered into a credit agreement on Thursday providing for a $100 million term loan with Cortland Capital Market Services LLC as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The loans were funded at an original issue discount of 97.5.

The term loan facility will mature on Oct. 27, 2020.

Proceeds will be used to purchase certain assets from Roan Resources LLC, to fund operations of the company and its subsidiaries, to pay outstanding borrowings under Roan Resources LLC’s credit facility and to pay fees and expenses.

The obligations of the company under the term loan are guaranteed by Linn Energy, Inc. and Roan Holdings Holdco, LLC and secured by first-priority liens on substantially all of the tangible and intangible assets of the company and the guarantors.

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

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