Quicksilver amends loan to allow debt repayment, notes to allow convertible payments

By Angela McDaniels

Seattle, Jan. 19 - Quicksilver Resources Inc. has amended its note purchase agreement so that it may make cash payments to holders of its 1.875% convertible debentures due 2024, according to an 8-K report filed with the Securities and Exchange Commission.

The amendment was entered with BNP Paribas as collateral agent and Fortis Capital Corp., Prudential Insurance Co. of America and Royal Bank of Scotland plc, as purchasers.

The company also amended its credit facilities to eliminate a restriction on Quicksilver's ability to repay or prepay other debt.

The amendment was absorbed by the existing group of 23 U.S. and international banks including JP Morgan Chase Bank NA, Bank of America NA and BNP Paribas, Fortis Capital Corp. and the Bank of Nova Scotia.

Quicksilver is a Fort Worth, Texas-based natural gas and crude oil production company.

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