Bankruptcy / Restructure Update | Capital Markets | Bankruptcy Exit | Private Equity Activity
Eagle Ford Operator Exits Bankruptcy; Armed With $200 Million
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Sabine Oil & Gas Corporation has annouced that it has completed its Chapter 11 re-organization. In conjunction with its emergence from Chapter 11, the Company closed on its new senior secured credit facility, which has commitments of $200 million and an initial borrowing base of$150 million, and on its new $150 million second lien term loan.
Chief Executive Officer David Sambrooks stated, “Sabine has successfully restructured its balance sheet, addressing its leverage and liquidity needs. Throughout this process we have valued and appreciated the support and guidance of our outgoing board of directors as well as our professional advisors. Above all, I am humbled by the dedication and outstanding effort of our employees, and have great optimism for the next chapter of our…
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