Northern Oil and Gas Inc.
Description
Northern Oil and Gas Inc. has closed an agreement with TPG Sixth Street Partners for a new $400 million first lien credit facility. At the closing, an initial amount of $300 million was funded - an additional $100 million of delayed draw term loans are available to the company, subject to the satisfaction of customary conditions. The new credit facility matures in five years and carries a floating interest rate of LIBOR, plus 7.75% (subject to a 1% LIBOR floor).