Finance & Investing | Capital Markets | Private Equity Activity
Borrowing Base / Credit Redeterminations: Winners & Losers
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As redetermination season arrives, Shale Experts is tracking the latest changes to borrowing bases and credit facilities, including who is getting a boost, who is remaining steady and which companies are seeing cuts.
Boosted Bank: Kinder MorganIn January 2016, Kinder Morgan reported a $1 billion expansion of its unsecured revolving credit facility, increasing the capacity of that facility from $4 billion to $5 billion.
Steady Support: Chesapeake EnergyOn April 11, Chesapeake reported that its borrowing base was reaffirmed at $4.0 billion.
However, the amendment includes a collateral value coverage test, which may limit Chesapeake's borrowing capacity if its collateral coverage ratio falls below 1.25x, tested as of March 31, 2017.
Memorial Resource DevelopmentMRD reported that lenders…
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