Oklahoma City’s SandRidge Energy announced it has paid off $20 million of indebtedness it had under a credit agreement with IEP Energy Holding LLC and Icahn Agency Services LLC.
Terms of the agreement were revealed in November 2020 in a filing with the Securities Exchange Commission. IEP was the lender and Icahn Agency acted as the administrator.
SandRidge Energy stated it did not incur any early termination penalties as a result of the repayment. Under the original deal, the term loan and revolving line were to mature Nov. 30, 2023.
As a result of the early repayment, SandRidge was automatically and permanently released from all security interests, mortgages and liens.
Click here for SEC filing