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CM - Cabot’s base stays at $3.2B; lenders commit less - May 2019
Cabot Oil & Gas Corp. entered into a second amended and restated credit agreement on April 23 that left the borrowing base intact at $3.2 billion but pushed down available commitments to $1.5 billion from $1.8 billion. The maturity date was extended to April 2024. The facility’s interest rate varies depending on whether the company has credit ratings in investment grade status. During those periods, the company would pay 12.5-75 bps over alternate base rate or 112.5-175 bps over LIBOR. Outside......
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