Simpson Thacher Represents Capital One in Magnum Hunter Resources Corporation's $100 Million Senior Secured Second Lien Credit Facility
09.29.11
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The Firm represented Capital One, National Association, as the Administrative Agent, in connection with a new five-year $100 million senior secured second lien term loan facility for Magnum Hunter Resources Corporation (“MHR”). The term loan facility was increased from the previously announced $75 million to $100 million due to demand from the Company's existing bank group.
MHR is a Houston, Texas based independent exploration and production company engaged in the acquisition, development and production of oil and natural gas, primarily in the states of West Virginia, Kentucky, Ohio, Texas, North Dakota and Saskatchewan, Canada. The Company is presently active in three of the most prolific shale resource plays in North America, namely the Marcellus Shale, Eagle Ford Shale and Williston Basin/Bakken Shale.
The Simpson Thacher team for this transaction included Robert Rabalais and Mike Vernace (Credit).