Cabot Increases Credit Facility to $900MM

Cabot announced an expansion and extension of its Revolving Credit facility.

Cabot, on September 22, 2010, closed on a new Revolving Credit facility that extended the maturity five years, or until 2015; added commitments, increasing the line to $900 million from $500 million and established a $1.5 billion borrowing base, eleven percent above the previous mark, even with a lower commodity price outlook. To accomplish this expansion, all of Cabot's existing providers increased their commitments and one new institution was added.

"We pride ourselves on having long-standing relationships with our financial providers, and we are pleased for their ongoing commitment to Cabot's success," commented Dinges.