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Eagle Rock announces credit facility amendments and new upstream borrowing base


Published May 30, 2014
Eagle Rock Energy Partners, L.P.-2

Eagle Rock Energy Partners, L.P. announced that its lender group has unanimously approved an amendment to the Partnership's credit facility that allows for greater liquidity and certain covenant relief through the second quarter of 2014. The amendment, among other items, provides for an increase in the midstream component of the facility's total borrowing base and provides for an increase in the Total Leverage Ratio and Senior Secured Leverage Ratio (as defined in the credit agreement) for the quarter ended June 30, 2014.

The Partnership also announced that effective June 1, 2014, the upstream component of the borrowing base will decrease from $380 million to $330 million as part of the Partnership's regular semi-annual redetermination by its commercial lenders.

Tags: Eagle Rock Energy Partners




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