Finance & Investing | Top Story | Debt | Capital Markets
Southwestern Taps Fayetteville Asset as Collateral for Refinanced Debt
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Southwestern Energy Company has entered into agreements with substantially all of its bank group for its $2.0 billion revolving line of credit and its $750 million term loan to extend maturities and modify certain other terms and conditions of the credit facilities.
Key Points:The Company has entered a new $1.934 billion credit facility, consisting of a $1.191 billion secured term loan and a $743 million revolving credit facility, both due December 14, 2020, with the following features:
The $1.191 billion secured term loan is fully drawn, with approximately $285 million of this balance being used to pay down the existing revolving credit facility balance in its entirety and the remaining amount available for liquidity purposes. The Company does not expect to borrow under the new…- ✓ Full news archive — U.S., Canada & international coverage
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