Legacy Reserves Increases Borrowing Base to $410MM
Legacy Reserves announced that its bank group has completed its semi-annual redetermination of the borrowing base applicable to Legacy's revolving credit facility. BNP Paribas, Legacy's Agent Bank, has notified Legacy that it has received approval from the lenders under the credit facility to increase the borrowing base to $410 million from the previous level of $340 million. In addition to increasing the borrowing base, Credit Agricole Corporate and Investment Bank and UBS joined Legacy's lending group, increasing the number of participating banks to eleven. The next borrowing base review is scheduled for October 1, 2010. Legacy's availability under its credit facility is currently $145 million.
- Legacy Reserves Finalizes Acquisition in Permian Basin (Nov 15)
- Legacy Reserves Increases Borrowing Base to $410MM (Apr 01)
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