EXCO Resources, Inc. has closed the funding of its previously announced 12.5% Senior Secured Second Lien Term Loan in the aggregate principal amount of $300 million (the “Fairfax Term Loan”) and its 12.5% Senior Secured Second Lien Term Loan in the aggregate principal amount of $291 million (the “Exchange Term Loan,” and together with the Fairfax Term Loan, the “Second Lien Term Loans”).

Simultaneously with the funding of the Second Lien Term Loans and pursuant to a series of purchase agreements, the Company completed its previously announced repurchase (the “Note Repurchase”) of an aggregate principal amount of approximately $376 million of 2018 Notes and an aggregate principal amount of approximately $201 million of 2022 Notes.

Tags: EXCO Resources