Samson Investment Said to Withdraw Loan Rate Reduction Request
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Samson Investment Co., an oil and gas producer owned by a group of investors led by KKR & Co., canceled plans to seek a lower rate on a $1 billion covenant-light loan, according to a person with knowledge of the transaction.
The company was seeking to cut the interest on the debt due in September 2018 to 4 percentage points more than the London interbank offered rate with a 1 percent minimum, from 4.75 percentage points more than Libor with a 1.25 percent minimum, according to data compiled by Bloomberg.