Capital Markets | Private Equity Activity
RSP Permian's Borrowing Base Jumps to $950 Million
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RSP Permian has entered into an amended and restated credit agreement.
The amended facility increases the borrowing base under the Facility to $950 million and increases the maximum commitments of the lenders from $1.0 billion to $2.5 billion.
The $950 million borrowing base only reflects the reserve growth from the Company's Midland Basin assets and the recently closed first-half of the Silver Hill acquisition. In addition, the amended and restated credit agreement provides RSP LLC the ability, subject to certain conditions, to elect the amount of the aggregate commitments under the Facility up to the amount of the borrowing base then in effect. RSP LLC has initially elected an aggregate commitment amount of $900 million. The bank syndicate, co-arranged by JPMorgan Chase Bank, N.A. and…
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