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CM - News Briefs - June 26, 2020
Bonanza Creek Energy Inc. and lenders led by JP Morgan reduced the company’s borrowing base to $260 million from $375 million and the elected loan limit to $260 million from $350 million. The company will also have a weekly mandatory prepayment requirement if its consolidated cash balance is over $35 million. Also, the maximum permitted net leverage ratio was reduced to 3.5x from 4.0x, and to 2.75x from 3.25x in cases of restricted payments,......
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