SandRidge Energy (SD) Reaffirms $985 Borrowing Base
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SandRidge Energy, Inc. (NYSE: SD) announced that its bank group recently reaffirmed its $985 million borrowing base and $1.75 billion commitment amount as part of the regularly scheduled semi-annual redetermination.
The company remains in compliance with all debt covenants and there were no changes in covenant ratios. The company's bank group consists of 27 financial institutions with no single bank holding more than 6.3% of the total commitment.
The next redetermination of the borrowing base is scheduled to be in the second quarter of 2010.
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