Oil and gas company QEP Resources has secured a new $1.5 billion revolving credit facility. The new loan replaces the $1 billion credit facility that was due to mature in March 2013.

The loan is scheduled to mature in 2016. The new loan provides for borrowings at short-term interest rates and also has provisions that will allow the line to be increased to $2 billion and for the maturity date to be extended for two extra one-year periods, adds Business Week.

Click here for the release from PR Newswire.

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