Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Cinco Resources, Inc. > News item |
Cinco Resources to repay credit facility, loan with stock proceeds
By Ashley Montgomery
Kansas City, Kan., Jan. 12 - Cinco Resources, Inc. said it plans to use the proceeds from its sale of common stock to fully repay its senior secured revolving credit facility due January 2016 and second-lien term loan.
According to the filing, the company owed $60 million on the revolver and $30 million on the term loan at the end of 2011.
Any further proceeds will go toward the company's drilling program and for general corporate purposes.
The issuer is a Dallas-based exploration and production company in natural resources.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.