Text Size:
A | A

GeoMet Amends Bank Credit Agreement

Text Size: A | A
 
August 9, 2012

GeoMet, Inc. (GMET) announced that it has executed an amendment to its bank credit agreement that extends the time available for the Company to cure the existing borrowing base deficiency.

A summary of the key terms of the amendment include:

• Borrowing Base - The borrowing base, currently set at $115 million, will continue to be determined periodically in accordance with the current terms of the credit agreement. Outstanding loans up to the amount of the borrowing base will be classified as the "Tranche A Loan," with any additional loans ...


Already a subscriber? Log In
Password:
 
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription