Rosetta amends, restates credit facility to upsize, extend maturity

By Melissa Kory

Cleveland, May 16 - Rosetta Resources Inc. announced that it has amended its senior revolving credit facility to provide a maximum credit of $750 million, revised from $600 million.

The maturity date of the agreement has been extended to May 10, 2016. The borrowing base under the revolving credit facility is set at $325 million.

As of May 16, $30 million was outstanding under the facility.

BNP Paribas is the administrative agent.

"This is a favorable reflection of Rosetta's track record and growth potential," Randy Limbacher, Rosetta's chairman, president and chief executive officer, said in a news release. "Rosetta's liquidity is now at an all-time high, and we are well positioned to fully unlock the value of our asset base."

Rosetta Resources is a Houston-based oil and gas company.

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