SunTrust Agents $60MM American Eagle Revolver
American Eagle Energy announced it closed a senior secured revolving credit facility with an initial borrowing base of $60 million. The borrowing base will be re-determined on a semi-annual basis.
The credit facility interest rate ranges from LIBOR plus 175 bps to LIBOR plus 275 bps depending upon borrowing base utilization. The maturity date is August 27, 2019.
American Eagle said SunTrust Robinson Humphrey served as the sole lead arranger and bookrunner, and SunTrust Bank serves as the administrative agent.