Penn Virginia gets $300 million amended and restated revolver

By Sara Rosenberg

New York, Aug. 3 - Penn Virginia Corp. closed on a $300 million five-year amended and restated senior secured revolving credit facility, according to a news release.

.P. Morgan Securities LLC acted as bookrunner and arranger on the deal and is the administrative agent as well.

Pricing on the revolver ranges from Libor plus 150 basis points to 250 bps, based on the amount drawn.

There is a $300 million accordion feature.

Covenants includes a maximum leverage ratio of 4.5 times through June 30, 2013, dropping to 4.0 times thereafter.

Penn Virginia is a Radnor, Pa.-based oil and gas company.

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