Matador Resources Co. (NYSE: MTDR) has amended its revolving credit facility to extend the maturity date from Dec. 29, 2016, to Oct. 16, 2020. In connection with the amendment, Matador’s lenders unanimously reaffirmed the borrowing base under the revolving credit facility at $375 million, and the maximum facility amount remained unchanged at $500 million.
On Oct. 21, Matador also announced the results of its offering to exchange $400 million of its outstanding 6.875% senior notes due 2023, which were privately placed on April 14, for a like principal amount of 6.875% senior notes due 2023 that have been registered under the Securities Act of 1933, as amended. As of 5 p.m., New York City time, on Oct. 20, which was the expiration date for the exchange offer, holders of 100.0% of the principal amount of the outstanding notes had validly tendered pursuant to the terms of the exchange offer. The settlement of the exchange offer occurred on Oct. 21.