Current Report Filing (8-k)
September 07 2017 - 5:29PM
Edgar (US Regulatory)
UNITED STATES SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): September 7, 2017
EXCO RESOURCES, INC.
(Exact name of registrant as specified in its charter)
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Texas
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001-32743
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74-1492779
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(State or other jurisdiction of
incorporation or organization)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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12377 Merit Drive
Suite 1700
Dallas,
Texas
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75251
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code: (214) 368-2084
Not Applicable.
(Former
name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.
On September 7, 2017, EXCO Resources, Inc. (the
Company
) borrowed
approximately $88 million under its Amended and Restated Credit Agreement, dated as of July 31, 2013, by and among the Company, as borrower, certain of its subsidiaries, as guarantors, the lenders party thereto, and JPMorgan Chase Bank,
N.A., as administrative agent (as amended from time to time, the
Revolving Credit Facility
), representing the remaining undrawn amount available under the Revolving Credit Facility. These funds are intended to be used for
general corporate purposes.
As of September 7, 2017, following the funding of this borrowing, the aggregate principal amount of
borrowings under the Revolving Credit Facility were approximately $150.0 million, including letters of credit, and the Companys current cash balance was approximately $145.0 million. These new borrowings initially bear interest at
6.50%.
For additional information about the Revolving Credit Facility, see the applicable discussions under Item 1.01 of our Current
Reports on Form 8-K filed with the Securities and Exchange Commission on August 23, 2013, September 4, 2013, July 18, 2014, October 27, 2014, February 12, 2015, July 28,
2015, October 22, 2015 and March 15, 2017, which such discussions of the Revolving Credit Facility and its amendments are incorporated herein by reference.
Item 8.01 Other Events.
On
September 7, 2017, the Company issued a press release announcing the borrowing under the Revolving Credit Facility and the retention of PJT Partners LP and Alvarez & Marsal North America, LLC to advise as to strategic alternatives
related to the Companys capital structure. The Company retained Kirkland & Ellis, LLP in mid-2016 and plans to continue the engagement for the purposes of evaluating strategic alternatives. A copy of the press release is attached
hereto as Exhibit 99.1 and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
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Exhibit Number
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Description
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Exhibit 99.1
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Press release, dated September 7, 2017, issued by EXCO Resources, Inc.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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EXCO RESOURCES, INC.
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Date: September 7, 2017
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By:
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/s/ Heather L. Lamparter
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Name:
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Heather L. Lamparter
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Title:
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Vice President, General Counsel and Secretary
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EXHIBIT INDEX