QEP Resources refinances facility with $1.5 billion five-year revolver

By Susanna Moon

Chicago, Aug. 25 - QEP Resources Inc. said it closed a $1.5 billion five-year unsecured revolving credit agreement with a group of 19 financial institutions.

The commitments under the facility may be raised to $2 billion, and the maturity may be extended for two additional one-year periods, according to a company press release.

The agreement replaces the $1 billion credit facility set to mature in March 2013.

Affiliates of Wells Fargo Bank, Bank of Montreal, Deutsche Bank, J.P. Morgan and U.S. Bank were the arrangers.

QEP Resources is a Denver-based natural gas and oil exploration and production company.

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