Lilis Energy Announces New Credit Agreement Conversion of ~$68 Million of Second Lien Term Loan to Equity Lowering Cost of Capital to Delineate and Acquire Acreage

Lilis Energy Announces New Credit Agreement Conversion of ~$68 Million of Second Lien Term Loan to Equity Lowering Cost of Capital to Delineate and Acquire Acreage

HOUSTON, Oct. 10, 2018 (GLOBE NEWSWIRE) — Lilis Energy, Inc. (NYSE American: LLEX), an exploration and development company operating in the Permian Basin of west Texas and southeastern New Mexico, today announced the Company has entered into a five-year, $500 million credit agreement. The credit agreement provides for a senior secured reserve based revolving credit facility with an initial borrowing base of $95 million. The credit facility matures on October 10, 2023 and is secured by substantially all of the Company’s assets. The credit facility is led by BMO Capital Markets Corp. and SunTrust Robinson Humphrey, Inc. as Joint Lead Arrangers; BMO Harris Bank, N.A. as Administrative Agent;…

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