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Laredo Petroleum Holdings Inc Announces $1 Billion Borrowing Base for Credit Facility

Thursday, 30 May 2013 07:30am EDT 

Laredo Petroleum Holdings Inc announced that the Company's senior secured credit facility has been amended to increase the borrowing base to $1 billion from $825 million. Following closing of the Company's previously announced divestment of its Anadarko Basin assets, expected during the third quarter of 2013, the borrowing base will be automatically reduced to $825 million. The senior secured credit facility matures July 1, 2016 and has capacity of $2.0 billion. Wells Fargo Bank, N.A. serves as administrative agent for the credit facility which includes 18 banks. 

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