Current Report Filing (8-k)
October 05 2017 - 4:14PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): September 29, 2017
EXCO RESOURCES, INC.
(Exact name of registrant as specified in its charter)
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Texas
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001-32743
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74-1492779
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(State or other jurisdiction of
incorporation or organization)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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12377 Merit Drive
Suite 1700
Dallas,
Texas
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75251
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code: (214) 368-2084
Not Applicable.
(Former
name or former address, if changed since last report.)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 1.01.
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Entry into a Material Definitive Agreement.
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Amendment to Credit Agreement
On September 29, 2017, EXCO Resources, Inc. (“
EXCO
”), certain subsidiaries of EXCO, JPMorgan Chase Bank, N.A., as administrative
agent (the “
Administrative Agent
”), and the banks party thereto (collectively, with the Administrative Agent, the “
Lenders
”) entered into the Limited Waiver and Eighth Amendment to Amended and Restated
Credit Agreement (the “
Amendment
”), amending EXCO’s Amended and Restated Credit Agreement, dated as of July 31, 2013 (as amended, the “
Credit Agreement
”).
The Amendment provides the Lenders will waive a potential event of default under the Credit Agreement which may result because of EXCO’s potential
failure to comply with the Credit Agreement financial covenant which requires the ratio of aggregate revolving credit exposure to consolidated EBITDAX for the four preceding consecutive fiscal quarters not to exceed 1.2 to 1.0 as of the last day of
the fiscal quarter ending September 30, 2017.
The Amendment also increases the maximum aggregate balance of deposit accounts maintained at financial
institutions (other than the Administrative Agent) from $250,000 to $1,000,000. In addition, the Amendment increases the applicable interest rate for borrowings under the Credit Agreement by 0.25% per annum.
The Amendment is filed as Exhibit 10.1 to this report and is incorporated by reference herein. The foregoing summary does not purport to be complete and is
qualified in its entirety by reference to the Amendment.
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Item 9.01.
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Financial Statements and Exhibits.
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The exhibits listed below are filed herewith.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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EXCO RESOURCES, INC.
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Date: October 5, 2017
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By:
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/s/ Heather L. Lamparter
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Name:
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Heather L. Lamparter
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Title:
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Vice President, General Counsel and Secretary
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