Encore amends loan, extending tenor, allowing for $150 million in senior subordinated debt

By Sara Rosenberg

New York, Jan. 5 - Encore Acquisition Co. amended its credit facility, extending the maturity date to Dec. 29, 2010 from Aug. 19, 2009 and allowing for the issuance of up to an additional $150 million of senior subordinated debt without lender consent, according to an 8-K filed with the Securities and Exchange Commission Thursday.

In addition, under the amendment, the company increased its borrowing base to $550 million from $400 million.

The amendment was completed on Dec. 29.

Bank of America is the administrative agent on the deal.

Encore is a Fort Worth, Texas-based independent energy company.

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