SM Energy amends credit facility

SM Energy Co.

SM Energy Co. (NYSE: SM) and its bank group have agreed to amend its senior secured revolving credit facility. Under the terms of the amendment, the aggregate commitment amount from the bank group was increased to $1.5 billion from $1.3 billion, the maturity was extended to Dec. 10, 2019, and the company’s cost of borrowing was reduced by adopting an improved pricing grid.

In addition, the company’s borrowing base was maintained at $2.4 billion following its recent issuance of $600 million of senior notes.

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