Magnum Hunter reduces revolver due April 13, 2016 to $242.5 million

By Tali Rackner

Minneapolis, Jan. 6 - Magnum Hunter Resources Corp. said the borrowing base under its asset-based senior secured revolving credit facility maturing April 13, 2016 was automatically reduced by $22.5 million to $242.5 million upon the Dec. 30 sale of certain oil and gas properties and assets in North Dakota, according to an 8-K filed with the Securities and Exchange Commission.

Bank of Montreal is the administrative agent.

Magnum Hunter is a Houston-based independent exploration and production company.

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