KCS Energy amends loan, decreasing revolver spread

By Sara Rosenberg

New York, Dec. 7 - KCS Energy Inc. amended its $100 million revolving credit facility, decreasing the interest rate range to Libor plus 175 to 275 basis points from Libor plus 225 to 300 basis points, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

The interest rate grid is based on utilization.

Bank of Montreal is agent on the deal, BNP Paribas is documentation agent, and JPMorgan Chase Bank is syndication agent.

The amendment took effect on Dec. 1.

KCS is a Houston-based oil and gas company.

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