Concho Resources amends loan, increasing pricing and commitment fee

By Sara Rosenberg

New York, April 8 - Concho Resources Inc. amended its credit facility, increasing pricing and the commitment fee, according to a news release.

Pricing on the facility can now range from Libor plus 200 basis points to 300 bps, versus from Libor plus 125 bps to 275 bps previously, based on usage.

The commitment fee is set at 50 bps, as opposed to being able to range from 25 bps to 50 bps.

JPMorgan and Bank of America are the lead banks on the deal.

The company also announced on Wednesday that the borrowing base under the $1.2 billion secured revolving credit facility was reaffirmed at $960 million.

Concho Resources is a Midland, Texas-based independent oil and natural gas company.

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