Rex Energy Corp.
Closed agreement with lending group led by Angelo, Gordon & Co. for a new first-lien delayed-draw term loan maturing in April 2021. Initial borrowings of about $144 million repaid outstanding loans and obligations under the previous senior secured credit facility, paid loan-associated fees, and placed about $19.3 million of cash on the balance sheet. New facility also includes about $46.5 million for outstanding undrawn letters of credit. There will be about $110 million of additional capacity under term loan after outstanding facility borrowings are paid. Jones Day was Rex Energy’s legal adviser, and Simpson Thacher & Bartlett LLP was the legal adviser to the lending group.