latest news releases from the newsroom
State Symphony Capella & Orchestra of Russia
State Symphony Capella and Orchestra of Russia -- Gala Concerts 2009
MOSCOW, March 27, 2009 (GLOBE NEWSWIRE) -- The State Symphony Capella & Orchestra of Russia, under the conduction of Valery Poliansky and with the participation of the world famous cellist Denis Shapovalov, will perform a series of concerts -- "Gala Concerts 2009" -- under the auspices of the President of the Hellenic Republic Mr. Karolos Papapoulias for the support of the SOS Children's Villages of Greece.
Legacy Reserves LP
Legacy Reserves LP Announces Extension of Credit Agreement
MIDLAND, Texas, March 27, 2009 (GLOBE NEWSWIRE) -- Legacy Reserves LP (Nasdaq:LGCY) announced today that it has entered into a new three year, $600 million secured revolving Credit Agreement with its Administrative Agent, BNP Paribas, its Syndication Agent, Wachovia Bank, N.A., a Wells Fargo Company, and its Documentation Agent, Compass Bank, along with a syndicate of banks. The initial borrowing base is $340 million, which is scheduled to be redetermined every six months starting October 2009. As of March 26, 2009, Legacy had $300 million of debt outstanding under the Credit Agreement, leaving $40 million available. The LIBOR interest rate margin ranges from 2.25% to 3.0% which is 0.75% higher than the previous Credit Agreement which has been restated and amended. The commitment fee on unused capacity has been increased to 0.5%. Legacy will initially be paying 3.0% over one month LIBOR, which is currently 0.52%, for an interest rate of approximately 3.5% which resets monthly. Legacy has LIBOR interest rate swaps in place with average fixed rates of 3.05% and terms expiring April through November of 2013 on $264 million of its debt.