Laredo Petroleum, Inc. Enters into the Tenth Amendment to the Fifth Amended and Restated Credit Agreement
November 03, 2022 at 04:21 pm EDT
On November 1, 2022, Laredo Petroleum, Inc. entered into the Tenth Amendment (the "Tenth Amendment") to the Fifth Amended and Restated Credit Agreement (as amended, the "Senior Secured Credit Facility") among the Company, as borrower, Wells Fargo, as administrative agent, the Guarantors and the bank signatory thereto. The Tenth Amendment, among other things, (i) increases the borrowing base from $1.25 billion to $1.3 billion, (ii) permits additional senior note buybacks and other restricted payments, subject to certain conditions; and (iii) makes technical changes to permit the Company to potentially incur term loans, subject to
terms to be agreed with lenders making such term loans, in addition to revolving loans, in each case, subject to the terms of the Tenth Amendment and the Senior Secured Credit Facility.