Legacy amends loan, increasing size to $500 million

By Sara Rosenberg

New York, Oct. 29 - Legacy Reserves LP amended its credit facility, increasing the size to $500 million and the borrowing base to $225 million, according to an 8-K filed with the Securities and Exchange Commission Monday.

In addition, the amendment provides that the company may elect that borrowings be comprised entirely of alternate base rate loans or Libor loans.

Pricing can from the alternate base rate plus 0 to 25 basis points, or Libor plus 100 bps to 175 bps.

The amendment was completed on Oct. 24.

BNP Paribas is the administrative agent on the deal.

Legacy is a Midland, Texas-based independent oil and natural gas limited partnership.

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