Penn Virginia amends loan terms, boosting commitments to $450 million

By Toni Weeks

San Luis Obispo, Calif., May 15 - Penn Virginia Corp. amended its credit agreement Monday with Wells Fargo Bank, NA as administrative agent, lifting the aggregate commitments by $50 million to $450 million, according to an 8-K filing with the Securities and Exchange Commission.

In addition, the borrowing base under the agreement was bumped up to $475 million from $425 million.

The company paid a 0.3% fee to lenders that increased their commitments.

Penn Virginia is an independent oil and gas company based in Radnor, Pa.

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