Roan Resources completed its fall 2018 borrowing base redetermination process for its credit facility, maturing in September of 2022. All participating lenders consented to an increase to $675 million, from $425 million and an amendment reducing the pricing grid by 25 basis points to a LIBOR spread of 200 to 300 basis points.
According to a related 8-K filing, Citibank served as administrative agent for the transaction.
“Completing the fall redetermination process is another step highlighting our execution on our 2018 objectives and provides visibility to funding the 2019 development program,” said Tony Maranto, chairman and CEO. “The borrowing base has increased substantially from the $200 million level at the origination of the credit facility just one year ago, all while maintaining an industry leading credit profile, which we see as a testament to the quality of our asset base.”
Roan is an independent oil and natural gas company headquartered in Oklahoma City.
