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Breitburn Energy Bankruptcy Financing Amended

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The U.S. Bankruptcy Court approved Breitburn Energy Partners’ motion for an eighth amendment to the Company’s post-petition financing arrangements.

As previously reported, “Pursuant to this Motion, the Debtors seek authority to further amend their existing postpetition revolving loan facility (as previously amended, the ‘Existing DIP Facility’) pursuant to the Eighth Amendment to Debtor-in-Possession Credit Agreement…The Eighth Amendment (a) extends the Existing DIP Facility’s scheduled maturity date from March 31, 2018 to June 30, 2018; and (b) provides for the payment of certain fees to the agent and lenders thereunder (in such capacities, the ‘DIP Agent’ and ‘DIP Lenders,’ respectively) in consideration for the extension.”

In addition, “In view of the current posture of these cases, it is possible that the Debtors’ emergence from chapter 11 may take place after March 31, 2018, the current maturity date of the Existing DIP Facility. The Eighth Amendment addresses this concern by, as stated, extending the scheduled maturity date to June 30, 2018.”

Read more Breitburn Energy bankruptcy news.

The post Breitburn Energy Bankruptcy Financing Amended appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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