Lilis Energy, Inc. announced that it has signed a new $50 million first lien term loan with Riverstone Credit Partners, L.P. It is anticipated that the new credit facility will be funded in full at closing February 1, 2018. The new credit facility will have additional availability of up to an additional $30 million which will be uncommitted at closing. The new credit facility will mature in three years, will be issued at an original issue discount of 1%, will carry a floating interest rate of LIBOR plus 6.75% (subject to a 1% LIBOR floor) and will be subject to call protection. The company plans to use approximately $30 million of the proceeds received at closing to repay and retire its existing first lien credit facility, which is scheduled to mature in October 2018. Remaining proceeds and additional availability under the new credit facility may be used for developmental drilling activities, future accretive acquisitions and general corporate purposes.