Dateline City:
DALLAS
- Issuing $591 Million Of 12.5% Senior Secured Second Lien Term Loans;
- Repurchasing $577 Million Of Unsecured Notes For $291 Million;
- Preserving $109 Million Of Additional Second Lien Debt Capacity; and
- Amending Credit Agreement
Overall Effect: Reduces net debt by approximately 18%, extends weighted average debt maturity by 30%, and improves forward cash flow by approximately $146 million.
DALLAS–(BUSINESS WIRE)–EXCO Resources, Inc. (NYSE:XCO) (“EXCO” or the “Company”) today
announced that it has entered into agreements for a series of
transactions that are expected to significantly enhance its balance
sheet and substantially increase its financial flexibility as part of
its ongoing strategic improvement plan (“Strategic Plan”).
Language:
English
Contact:
EXCO Resources, Inc.
Chris Peracchi, 214-368-2084
Vice President of Finance and Investor Relations, and Treasurer
www.excoresources.com
Ticker Slug:
Ticker:
XCO
Exchange:
NYSE
ISIN:
US2692794025