Item 1.01 Entry into a Material Definitive Agreement.
Forbearance Agreement Extension
As previously disclosed, on July 31, 2020, Lonestar Resources US Inc., a
Delaware corporation (the "Company"), and certain of its subsidiaries, entered
into a forbearance agreement (the "Forbearance Agreement") with certain holders
of its outstanding 11.25% senior notes due 2023 (the "Notes") and any additional
holder of Notes that becomes a party thereto in accordance with the terms
thereof (collectively, the "Forbearing Holders").
On August 21, 2020, the Forbearing Holders agreed to extend the Forbearance
Agreement to the earlier of September 11, 2020 and the execution of a global
restructuring support agreement.
Amendment No. 2 to the Forbearance Agreement, Fourteenth Amendment, and
Borrowing Base Agreement
As previously disclosed, on July 2, 2020, the Company and certain of its
subsidiaries entered into a Forbearance Agreement, Fourteenth Amendment, and
Borrowing Base Agreement with Citibank, N.A., as administrative agent, and the
lenders party thereto (as amended, the "Credit Facility Forbearance Agreement")
with respect to the Company's senior secured credit facility (as amended,
supplemented or modified from time to time, the "Credit Facility").
On August 21, 2020, the Company and certain of its subsidiaries entered into
a second amendment (the "Amendment No. 2") with respect to the Credit Facility
Forbearance Agreement with the administrative agent and the lenders under the
Credit Facility (the "Lenders"), pursuant to which the Lenders agreed to extend
the stated term of the Credit Facility Forbearance Agreement until September 11,
2020.
The above description of the terms of the Amendment No. 2 does not purport
to be complete and is qualified in its entirety by the full text of the
Amendment No. 2, which is attached to this Current Report on Form 8-K as Exhibit
10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Amendment No. 2 to the Forbearance Agreement, Fourteenth Amendment, and
Borrowing Base Agreement, dated as of August 21, 2020, by and among Lonestar
Resources America Inc., the guarantors under the Credit Facility, the Lenders
and Citibank, N.A., as Administrative Agent for the Lenders.
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