Chesapeake Energy amended its $4 billion secured revolving credit facility agreement maturing in 2019 with its bank syndicate group.

Following the recent redetermination review by its bank syndicate group, Chesapeake’s senior secured revolving credit facility borrowing base was reaffirmed at $4 billion, consistent with current availability. In connection with the redetermination, Chesapeake agreed to pledge additional assets as collateral under the credit agreement.

As part of the amendment, the next scheduled borrowing base redetermination review has been postponed, and the lenders have agreed not to exercise their interim redetermination right until June 2017. The amendment includes a collateral value coverage test, which may limit Chesapeake’s borrowing capacity if its collateral coverage ratio falls below 1.25x, tested as of March 31, 2017.

According to a related 8-K filing, MUFG Union Bank served as administrative agent, a swingline lender and a letter of credit issuer. MUFG Union Bank and Wells Fargo Securities served as joint lad arrangers and joint bookrunners.

Oklahoma City, OK-based Chesapeake Energy is the second-largest producer of natural gas and the 12th largest producer of oil and natural gas liquids in the U.S.