Columbia Natural Resources obtains $500 million revolver

By Sara Rosenberg

New York, Sept. 3 - Columbia Natural Resources Inc. closed on a new $500 million five-year revolver. Fleet was lead arranger and administrative agent, Harris Trust and BNP Paribas were co-syndication agents and Bank One and Wells Fargo were co-documentation agents, according to a syndicate source.

Furthermore, Bank of Scotland and Bank of Nova Scotia signed on as senior agents for the deal, which also included 10 other participating banks.

The revolver carries an interest rate of Libor plus 300 basis points.

Proceeds were used to help support the leveraged buyout of the company by Morgan Stanley Private Equity from NiSource Inc.

Columbia Natural Resources is a natural gas exploration and production company.

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