Saratoga Resources gets $145.5 million amended and restated facility

By Sara Rosenberg

New York, May 18 - Saratoga Resources Inc. closed on a $145.5 million amended and restated credit facility due April 30, 2012 in conjunction with its emergence from Chapter 11 on May 14, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Wayzata Investment Partners is the agent on the deal.

The facility consists of an $18 million revolver, all of which is drawn, priced at prime plus 200 basis points, and a $127.5 million term loan priced at 11.25%.

Saratoga is an Austin, Texas-based oil and gas exploration and production company.

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