February 13, 2017 / 12:45 PM / 6 months ago

BRIEF-SandRidge Energy announces $600 mln reserve based credit facility

Feb 13 (Reuters) - SandRidge Energy Inc -

* SandRidge Energy Inc announces new $600 million reserve based credit facility with $425 million borrowing base and conversion of its $264 million mandatorily convertible notes

* Refinancing amended terms of prior credit facility, provides company with increased principal commitment to $600 million from $425 million

* Refinancing triggered mandatory conversion under terms of co's indenture governing 0.00% convertible subordinated notes due 2020

* Refinancing amended terms of prior credit facility and provides a maturity date of March 31, 2020

* Refinancing provides company with a $50 million increase in available cash Source text for Eikon: Further company coverage:

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