OKLAHOMA CITY, Dec. 20, 2012 (GLOBE NEWSWIRE) -- PostRock Energy Corporation ("PostRock" or the "Company") (Nasdaq:PSTR) today announced that it had secured a new four-year revolving credit facility (the "Facility"). Citibank acted as Agent, Cadence Bank, Compass Bank and OneWest Bank as Co-Agents and Texas Capital Bank as a participant. The Facility's initial borrowing base was set at $90 million, of which $61.3 million was outstanding at closing, net of cash on hand. The Facility was structured as an amendment to the existing facility to minimize costs. In the future, if the value of the Company's oil and gas properties justifies it, the borrowing base under the Facility could be increased up to $200 million.
PostRock Finalizes New Credit Facility
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.