EXCO closes second lien term loan and note repurchase

EXCO Resources Inc. (NYSE:XCO) has closed the funding of its 12.5% senior secured second lien term loan in the aggregate principal amount of $109 million.

Simultaneously with the funding of the exchange term loan and pursuant to a series of purchase agreements, the company completed its repurchase of an aggregate principal amount of $175 million of 2018 notes and an aggregate principal amount of $76 million of 2022 notes. The proceeds of the exchange term loan were deemed to be used to complete the note repurchase and the notes repurchased will be cancelled by the trustee following customary settlement procedures.

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