Sandridge Energy: Jumps on new credit agreement with Icahn firm

SandRidge Energy

01/12/2020 15:40

** Shares of oil and gas driller  SD.N  up 9.7% at $2.93
    ** Co says it has taken on a new $30 mln credit facility to
replace a prior credit agreement 
    ** The new credit facility is with affiliates of Icahn
Enterprises  IEP.O , the investment firm belonging to its top
shareholder Carl Icahn who owns a 13.4% stake in Sandridge
 urn:newsml:reuters.com:*:nPn5MRFjma
    ** New facility will charge same interest rate as previous
facility, but will not have scheduled borrowing base
redeterminations and no charges of commitment fee
    ** The $10 mln revolving loan facility and a $20 mln term
loan facility mature on Nov. 30, 2023
    ** SD shares are down 37% so far this year

 (Reporting by Lasya Priya M in Bengaluru)
 ((LasyaPriya.M@thomsonreuters.com;))