Amplify Energy updates credit facility with $25M base to 2028
Amplify Energy Corp. disclosed that its wholly owned subsidiary, Amplify Energy Operating LLC, entered into a Borrowing Base Redetermination, Commitment Increase and Second Amendment to its Amended and Restated Credit Agreement.
Rhea-AI Filing Summary
Amplify Energy Corp. disclosed that its wholly owned subsidiary, Amplify Energy Operating LLC, entered into a Borrowing Base Redetermination, Commitment Increase and Second Amendment to its Amended and Restated Credit Agreement. The amendment sets the borrowing base at $25,000,000 and extends the credit facility’s maturity date to December 31, 2028. The agreement is among the borrower, Amplify Acquisitionco LLC, certain guarantors, the lending banks, and Citizens Bank, N.A. as administrative agent, and is intended to govern the company’s revolving credit arrangements going forward.
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Insights
Amplify extends its bank credit facility, locking in a $25M base to 2028.
Amplify Energy, through its subsidiary, amended its revolving credit agreement to formalize a borrowing base of $25,000,000 and push the maturity out to December 31, 2028. This type of agreement typically supports day-to-day liquidity and capital needs, especially important for energy companies with ongoing development spending.
The amendment is described as a borrowing base redetermination, commitment increase and second amendment, but only the $25,000,000 base and new maturity are quantified here. Actual impact will depend on how much of the facility the company draws and the detailed covenants contained in the full amendment. Investors can reference Exhibit 10.1 for the precise terms governing leverage, collateral, and other conditions.
8-K Event Classification
FAQ
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What did Amplify Energy Corp. (AMPY) announce in this 8-K?
How large is Amplify Energy Corp.’s borrowing base under the amended credit agreement?
When does Amplify Energy Corp.’s amended credit facility now mature?
Which entities are parties to Amplify Energy Corp.’s amended credit agreement?
Did Amplify Energy Corp. issue a press release about the credit agreement amendment?
Where can investors find the full terms of Amplify Energy Corp.’s Second Amendment?
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