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Alta Mesa to repay $125 million second-lien, pay down first-lien chunk
By Wendy Van Sickle
Columbus, Ohio, Nov. 10 – Alta Mesa Holdings, LP plans to fully repay $125 million second-lien term loan and to partially pay down its first-lien credit facility with proceeds from a $300 million capital investment from its parent company, High Mesa, Inc., according to a press release.
After the partial repayment, the company will have about $223 million undrawn on the first-lien. The company will pay a $2.5 million premium to prepay the second-lien.
The parent obtained the funds for the capital investment from the sale of preferred equity for a minority interest in High Mesa to BCE-MESA Holdings LLC, an affiliate of Bayou City Energy Management, LLC.
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