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Sabine Gains Additional Flexibility as it Attempts to Tackle Debt
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Sabine Oil & Gas Corporation announced that on July 8, 2015, it signed an amendment to its previously announced forbearance agreement with the lenders under its second lien term loan facility.
The amended forbearance agreement will provide the Company with additional flexibility as it continues discussions with its creditors and their respective professionals regarding the Company's debt and capital structure. Pursuant to the amendment to the forbearance agreement, the lenders under the second lien term loan facility have agreed to forbear from exercising remedies until the earlier of (i) certain events of default under the forbearance agreement or second lien term loan facility, (ii) the acceleration or exercise of remedies by any other lender or creditor, and (iii) the earlier of the…
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