Holland & Hart represented Fundare Resources Company, LLC (“Fundare“ or the “Company”), a Denver-based exploration and production company, in negotiation, documenting, and closing a $500 million senior-secured credit facility. On December 12, Fundare announced that it entered into a credit agreement (“Credit Agreement”) among Fundare Redtail, LLC as borrower and a syndicate of lenders led by BOK Financial as administrative agent. KeyBanc Capital Markets served as joint lead arranger and UMB Bank served as syndication agent.
The Credit Agreement provides for a reserve-based revolving facility (“Credit Facility”) in an aggregate original commitment amount of $500 million with an initial borrowing base of $120 million that will be redetermined semi-annually. The Credit Facility will be used to refinance existing indebtedness, fund future development of Fundare Redtail’s oil and gas properties, and for other corporate development opportunities and general corporate purposes.
“The new credit facility repositions Fundare Redtail’s credit, setting up a path for expanding future project development,” said Craig Gleaton, General Counsel and Vice President of Land of Fundare. “Many thanks to the Holland & Hart team for coordinating the intercreditor agreements and their effective counsel negotiating key issues and responsiveness in making the closing a success.”
The Holland & Hart transactional team was led by Todd Criger and Tim Crisp, with assistance from Kent Karber, Kit LeVoy, and Lori Argall.
For more information, please see Fundare’s press release.
Holland & Hart’s Corporate attorneys have extensive experience advising private and public companies, at all stages of development, in a diverse range of industries, including energy and resources, finance, wealth services, construction and building materials, technology, healthcare, gaming, outdoor recreation, animal health, aerospace, and food, beverage, and consumer products industries.