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Yuma Energy Reports Third Party Purchase of Senior Secured Bank Debt

By Criterion Research
September 11, 2019 -

Yuma Energy reported that an affiliate of Red Mountain Capital Partners has purchased all of Yuma's outstanding senior secured bank indebtedness and related liabilities totaling roughly $35 million from the Company's lending group. 

The purchase includes a principal balance of the Company's credit facility of $32.8 million, plus accrued interest of $1.3 million, and the release or purchase of losses associated with the Company's prior hedging arrangements totaling approximately $1.1 million. 


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