Mission Resources obtains $12.5 revolving credit facility

By Carlise Newman

Chicago, June 16 - Mission Resources Corp. said it has amended and restated its existing senior secured credit agreement to add a three-year revolving credit facility of up to $12.5 million, including a letter of credit sub-facility of up to $3 million.

The new facility, currently undrawn, will be used for ongoing working capital and general corporate needs.

The terms of Mission Resources' existing $80 million term loans have not changed with the addition of the new revolver, except that the company must have availability of $5 million before prepayments may be made on the term loans.

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