SM Energy increases secured revolver to $1.5 billion, extends due date

By Marisa Wong

Madison, Wis., Dec. 10 – SM Energy Co. said it agreed to amend its senior secured revolving credit facility by increasing the aggregate commitment amount from the bank group to $1.5 billion from $1.3 billion.

The maturity was also extended to Dec. 10, 2019, and the company’s cost of borrowing was reduced by adopting an improved pricing grid.

In addition, the borrowing base was maintained at $2.4 billion following the company’s recent issuance of $600 million of senior notes.

SM Energy is an independent energy company based in Denver.

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