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.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...