Cimarex Energy increases revolver to $1.25 billion, extends to 2024

By Angela McDaniels

Tacoma, Wash., Feb. 7 – Cimarex Energy Co. increased its senior revolving credit facility to $1.25 billion from $1 billion and extended the maturity date to Feb. 5, 2024 from Oct. 16, 2020, according to an 8-K filing with the Securities and Exchange Commission.

The company also changed the interest rate to Libor, subject to a floor of zero, plus a margin of 112.5 basis points to 200 bps based on its credit ratings.

The revolver has a $10 million sublimit for letters of credit.

JPMorgan Chase Bank, NA and Wells Fargo Securities, LLC are the lead arrangers and bookrunners. JPMorgan is the administrative agent. Wells Fargo Bank, NA is the syndication agent.

Cimarex is an oil and gas company based in Denver.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.