Venoco amends revolver, revising pricing and affirming borrowing base

By Sara Rosenberg

New York, June 23 - Venoco Inc. amended its revolving credit facility, modifying pricing and affirming the borrowing base at $125 million, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Pricing on the revolver can now range from Libor plus 225 basis points to 300 bps based on use, and the commitment fee is 50 bps.

The amendment was completed on June 18.

Bank of Montreal is the administrative agent on the deal.

Venoco is a Denver-based energy company.

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