An affiliate of MC Credit Partners served as administrative agent on a new $200 million first lien credit facility for MD America Energy.
At closing, an initial amount of $100 million was funded, with an additional $100 million of delayed draw term loans available to the company, subject to the satisfaction of customary conditions.
MD America CEO Eric Waller stated, “This new credit facility will permit us to continue to expand our operations in East Texas, which continue to be focused on the development of the prolific Eagle Ford and Woodbine formations.”
Guggenheim Securities served as financial advisor to MD America and joint lead arranger on the facility.
MC Credit Partners provides first lien, unitranche, second lien and revolving loans and other debt capital solutions to private and public middle market companies. Facility sizes typically range from $40 million to over $250 million.
MD America Energy is a privately-owned exploration and production company focused on the prolific East Texas Basin, where the company has a current position in excess of 71,000 net acres.
