DoublePoint Energy LLC

Description

DoublePoint Energy LLC announced the successful increase of its syndicated credit facility. This increase along with over $750 million of undrawn existing equity commitments provides significant capital to continue to pursue high-quality opportunities in the Permian Basin.

The 45% increase in DoublePoint’s syndicated RBL facility comes at a time when credit availability is significantly limited. The existing bank group unanimously approved the increase, and a new bank joined the syndication. Citigroup Global Markets, Inc. acted as lead arranger.

The existing equity commitments come from funds managed by affiliates of Apollo Global Management Inc., Quantum Energy Partners, Magnetar Capital, funds managed by GSO Capital Partners LP, Double Eagle Energy Holdings, FourPoint Energy and other investors.

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