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Gastar Exploration amends revolving credit facility with Wells Fargo
By Jennifer Chiou
New York, March 13 - Gastar Exploration, Inc. entered into an amendment to its credit agreement with Wells Fargo Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.
The amendment modifies the senior secured revolving credit facility to, among other things, permit the company to exclude current and future subsidiaries that are deemed to be immaterial from becoming guarantors of the revolver, exclude the non-guarantor subsidiaries from the provisions of the negative covenants of the facility with respect to mergers and acquisitions, restricted payments and investments, and exclude the non-guarantor subsidiaries from being included in the calculation of the borrowing base under the revolver.
The energy company is based in Houston.
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