Wells Fargo Agents Eagle Rock Energy Amendment
Eagle Rock Energy Partners announced that the partnership and its lending group amended Eagle Rock’s existing senior secured credit facility to allow for a temporary step-up in the total leverage ratio and the senior secured leverage ratio, as defined in the credit facility, through the third quarter of 2014. Eagle said the amendment is effective as of June 30, 2013.
According to a related 8-K filing, the lender group was led by Wells Fargo, as administrative agent. The filing notes that the amendment provides for, among other things, a temporary step-up in the total leverage ratio from 4.75 to 1.00 to 5.50 to 1.00, which will decline over time.