In Brief: Oil Company Increases Credit Facility Limits

Magnum Hunter Resources Inc. announced an amendment to its senior bank revolving credit facility last week, including an increase in the maximum note amount from $75 million to $125 million and an increase in the company's borrowing base from $60 million to $65 million.

The loan is led by BT Alex. Brown and Banque Paribas. Canadian Imperial Bank of Commerce recently joined the bank group as a participant.

Other changes provide for a lower interest coverage ratio test and an increase in the amount of investments the company can make in third-party entities.

Irving, Tex.-based Magnum Hunter is an exploration and development company active in crude oil and natural gas.

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