Matador Resources unit expands secured revolver to $1.25 billion

By Mary-Katherine Stinson

Lexington, Ky., April 3 – Matador Resources Co.’s wholly owned subsidiary MRC Energy Co. entered a second amendment to its fourth amended and restated credit agreement, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the borrowing commitment to $1.25 billion from $775 million.

As a result of the regularly scheduled May 1 redetermination, the borrowing base was reaffirmed as $2.25 billion.

Truist Bank is the administrative agent.

Listed as joint lead arrangers and joint bookrunners are Truist Securities, Inc., Bank of America, NA, Keybanc Capital Markets Inc., PNC Capital Markets LLC, RBC Capital Markets and Bank of Nova Scotia, Houston Branch.

The co-syndication agents are Bank of America, Keybank National Association and PNC Bank, NA.

Royal Bank of Canada and Bank of Nova Scotia, Houston Branch are the co-documentation agents.

As of Dec. 31, the company had no borrowings outstanding under the credit agreement, and approximately $45.6 million in outstanding letters of credit issued under the agreement.

Matador is a Dallas-based independent energy company.

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