January 5, 2018 / 2:29 PM / 18 days ago

BRIEF-Legacy Reserves LP Announces Expanded Second Lien Term Loan And Increased Senior Notes Ownership

Jan 5 (Reuters) - Legacy Reserves Lp:

* LEGACY RESERVES LP - ‍ENTERED ADDITIONAL TRANSACTIONS TO REDUCE TOTAL INDEBTEDNESS AND INCREASE FINANCIAL FLEXIBILITY​

* LEGACY RESERVES LP ANNOUNCES EXPANDED SECOND LIEN TERM LOAN AND INCREASED SENIOR NOTES OWNERSHIP

* LEGACY RESERVES-ON DEC 31, ENTERED AGREEMENT WITH FUNDS MANAGED BY FIR TREE PARTNERS TO BUY ITS HOLDINGS IN CO‘S $550 MILLION 6.625% SENIOR NOTES DUE 2021​

* LEGACY RESERVES LP - LEGACY AND GSO AMENDED 2ND LIEN TERM LOAN INCLUDING AN INCREASE IN AMOUNT OF AGGREGATE COMMITMENTS FROM $300 MILLION TO $400 MILLION

* LEGACY RESERVES LP - ‍PURCHASED $187 MILLION OF 6.625% NOTES FOR A PRICE OF APPROXIMATELY $131 MILLION​

* LEGACY RESERVES LP - AMENDED 2(ND) LIEN TERM LOAN ALSO EXTENDING AVAILABILITY OF BORROWINGS UNDER 2(ND) LIEN TERM LOAN TO OCTOBER 25, 2019​

* LEGACY RESERVES LP - ‍FUNDED REPURCHASE OF 6.625% NOTES WITH ITS NEWLY-AMENDED 2(ND) LIEN TERM LOAN​

* LEGACY RESERVES LP - ‍SEPARATELY, LEGACY PAID CASH AND ISSUED NEW UNITS TO FIR TREE UNDER A TWELVE-MONTH STANDSTILL AND VOTING AGREEMENT​ Source text for Eikon: Further company coverage:

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