Legacy Reserves Inc. Reaches Third Forbearance Agreement With RBL And Second Lien Lenders
LEGACY RESERVES (LGCY)
Last legacy reserves earnings: 5/9 07:32 pm
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US:NASDAQ Investor Relations:
legacylp.com/home
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Source: PR Newswire
MIDLAND, Texas, June 13, 2019 /PRNewswire/ -- Legacy Reserves Inc. (NASDAQ: LGCY) ("Legacy", and collectively with its subsidiaries, the "Company") announced today that the Company has entered into third forbearance agreements (the "Third Forbearance Agreements") with its lenders under its reserve based revolving credit facility ("RBL Lenders") and its lenders under its second lien term loan ("Second Lien Lenders"). As previously announced, on June 7, 2019, the Company entered into second forbearance agreements with the RBL Lenders and Second Lien Lenders that were scheduled to terminate on 11:59 p.m. (ET) on June 12, 2019. Under the terms of the Third Forbearance Agreements, the RBL Lenders and Second Lien Lenders have agreed to extend the forbearance period during which the lenders will forbear from exercising any and all remedies available to them in respect of (a) any event of default arising from the maturity of the revolving credit facility on May 31, 2019 and (b) any event of
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