SM Energy to repay revolving credit facility via asset sale proceeds

By Tali Rackner

Norfolk, Va., Aug. 1 – SM Energy Co. plans to reduce the outstanding balance on its revolving credit facility using the proceeds from its sale of two separate packages of non-core assets, according to a press release.

Proceeds from the combined $172.5 million sale will also be used for general corporate purposes.

The transactions are expected to close late in the third quarter with expected cash proceeds subject to customary purchase price adjustments.

SM Energy is a Denver-based independent energy company.

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