Court Approves $200MM Magnum Hunter DIP Financing
The bankruptcy court approved Magnum Hunter Resources’ DIP financing agented by Cantor Fitzgerald Securities for the DIP lenders and Credit Suisse for the second lien lenders.
The bankruptcy court approved Magnum Hunter Resources’ DIP financing agented by Cantor Fitzgerald Securities for the DIP lenders and Credit Suisse for the second lien lenders.
Magnum Hunter Resources refinanced its existing revolver and obtained additional liquidity through a new $60 million senior secured term loan. Bank of Montreal was administrative agent for the lender group.
Magnum Hunter Resources closed on two new credit facilities and completely refinanced its prior revolver. Credit Suisse Securities (USA) and BMO Capital Markets acted as joint lead arrangers.
Magnum Hunter Resources said the lenders under its senior revolver completed their regular redetermination of the company’s borrowing base, resulting in an increase to $325 million. Bank of Montreal was administrative agent for the lenders.