Rosehill Resources obtains final OK of $17.5 million of DIP loan

By Caroline Salls

Pittsburgh, Aug. 28 – Rosehill Resources Inc. received final court approval to access a $17.5 million junior convertible debtor-in-possession delayed-draw term loan facility, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

U.S. Bank NA is the DIP administrative agent.

The facility will mature on the earliest of 180 days after the Chapter 11 filing, the effective date of the pre-packaged plan of reorganization, the closing of a sale of substantially all of the company’s equity interests or assets, the date of payment in full of the DIP credit agreement obligations and the acceleration of the loan.

Interest will accrue at a rate of 8%, payable in-kind.

Rosehill Resources is a Houston-based oil and gas company. The company filed bankruptcy on July 26 under Chapter 11 case number 20-33695.

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