The US Bankruptcy Court in the Southern District of Texas authorized Gastar
Exploration’s motion to utilize a superpriority debtor-in-possession financing
facility, enabling the company to access up to $383 million in DIP financing on a final
basis. That amount will comprise up to $100 million in new money that will
finance about $283.9 million of
refinanced obligations consisting
of the principal and accrued and
unpaid interest outstanding under the company’s term loan facility that was active as
of the petition date. The......
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