Managing ‘Big Data’ — The Key to True Collateral Value & Risk Control

Michael Charleston, Bayside Business Solutions program manager, outlines how lenders can adapt to a fast-paced, data-rich environment by utilizing portfolio management systems that customize controls and workflows to meet the unique requirements of each collateral type on a deal-by-deal basis.

JPMorgan Extends PDC Energy Credit Facility

PDC Energy entered into its third amended and restated credit agreement with its current group of lenders led by JPMorgan Chase as administrative agent. The maturity date was extended to May 2018.

Certainty of Execution — Asset-Based Lending in Leveraged Finance

ABL facilities allow borrowers to obtain higher leverage at a lower cost compared to cash-flow-based term debt, while also providing certainty of execution and a flexible covenant package. Paul Hastings attorneys Mario Ippolito, Peter Burke, Jennifer Yount & Shafiq Perry examine the key negotiated terms of an ABL facility in the context of a leveraged finance transaction.

BOM Agents Increase in Warren Resources’ Borrowing Base

Warren Resources said the syndicate of lenders, led by Bank of Montreal as agent underwriting the company’s senior secured credit facility, has increased the conforming borrowing base to $145 million.

JPMorgan, Wells Up Antero Resources Borrowing Base

Antero Resources announced that the borrowing base under its bank credit facility was increased to $1.75 billion. JPMorgan and Wells Fargo led the 16-bank syndicate.

Toronto Dominion (TX) Led Group Ups W&T Offshore Revolver

W&T Offshore said it received an increase in the borrowing base under its revolving credit facility from $725 million to $800 million. According to a filing, Toronto Dominion (Texas) served as administrative agent for the lender group.

Wells Fargo Agents Oasis Petroleum Facility Increase

Oasis Petroleum entered into a second amended and restated credit agreement with its bank syndicate, led by Wells Fargo as administrative agent, increasing the overall facility to $2.5 billion.

KeyBank Agents Rex Energy Amendment

Rex Energy entered into an amended credit agreement to expand its borrowing base to $325 million under the company’s senior secured credit facility with a lender group led by KeyBank serving as administrative agent.

Sanchez Energy Increase Borrowing Base to $95MM

Sanchez Energy said it received commitments from its lending group to increase its available borrowing base under its first lien revolver from $27.5 million to $95 million.