Capital Markets | Credit Facility Change | Private Equity Activity
Midstates Amends Senior Credit Facility
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Midstates has amended its senior credit facility. Highlights include:
- Removed the requirement to maintain a cash collateral account at the Administrative Agent in the amount of $40 million, increasing liquidity by $40 million;
- Removed certain negative covenants, such as the limitations on capital expenditures and the 20% of borrowing base minimum liquidity requirement
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