Exco Resources Inc (XCO): Billionaire Howard Marks’ Oaktree Capital Management Trims Its Stake

Page 22 of 34 – SEC Filing

SCHEDULE 13D

CUSIP No. 269279402

Page 22 of 34 Pages

Item 1.             Security and Issuer

This Amendment No. 6 (this “Amendment No. 6”), filed jointly by Oaktree Capital Management, L.P., a Delaware limited partnership (“Oaktree LP”), OCM Principal Opportunities Fund III GP, L.P., a Delaware limited partnership (“Fund III GP”), OCM Principal Opportunities Fund III, L.P., a Delaware limited partnership (“Fund III”), OCM Principal Opportunities Fund IIIA, L.P., a Delaware limited partnership (“Fund IIIA”), OCM Principal Opportunities Fund IV GP Ltd., a Cayman Islands company (“Fund IV GP Ltd.”), OCM Principal Opportunities Fund IV GP, L.P., a Cayman Islands limited partnership (“Fund IV GP”), OCM Principal Opportunities Fund IV, L.P., a Cayman Islands limited partnership (“Fund IV”), OCM EXCO Holdings, LLC, a Delaware limited liability company (“OCM EXCO”), OCM Principal Opportunities Fund IV Delaware, L.P., a Delaware limited partnership (“Fund IV Delaware”), OCM Principal Opportunities Fund IV Delaware GP Inc., a Delaware corporation (“Fund IV Delaware GP”), Oaktree Holdings, Inc., a Delaware corporation (“Holdings Inc.”), Oaktree Fund GP I, L.P., a Delaware limited partnership (“GP I”), Oaktree Capital I, L.P., a Delaware limited partnership (“Capital I”), OCM Holdings I, LLC, a Delaware limited liability company (“Holdings I”), Oaktree Holdings, LLC, a Delaware limited liability company (“Holdings”), Oaktree Capital Group, LLC, a Delaware limited liability company (“OCG”), Oaktree Capital Group Holdings, L.P., a Delaware limited partnership, Oaktree Capital Group Holdings GP, LLC, a Delaware limited liability company (“OCGH GP”), Oaktree Value Opportunities Fund Holdings, L.P., a Delaware limited partnership (“VOF Holdings”), Oaktree Value Opportunities Fund GP, L.P., a Cayman Islands limited partnership (“VOFGP”), and Oaktree Value Opportunities Fund GP Ltd., a Cayman Islands limited company (“VOF GP Ltd.”) (together, the “Reporting Persons”), amends and supplements the statement on Schedule 13D filed on April 9, 2007, as amended by Amendment No. 1 filed on August 30, 2007, Amendment No. 2 filed on July 22, 2008, Amendment No. 3 filed on November 2, 2010, Amendment No. 4 filed on January 26, 2011 and Amendment No. 5 filed on January 14, 2014 (as so amended, the “Schedule 13D”).

Capitalized terms used in this Amendment No. 6 and not otherwise defined herein have the respective meanings given in the Schedule 13D.  Unless set forth below, all previous Items set forth in the Schedule 13D remain unchanged. The filing of this Amendment No. 6 shall not be construed to be an admission by the Reporting Persons that a material change has occurred in the facts set forth in the Schedule 13D or that this Amendment No. 6 is required under Rule 13d-2 of the Securities Exchange Act of 1934, as amended.

Item 2.    Identity and Background

(a)-(c) & (f)

Item 2 of the Schedule 13D is hereby amended and supplemented by replacing the previously filed Annex A relating to the directors, executive officers, members and general partners, as applicable, of each Reporting Person (collectively, the “Covered Persons”) with the Annex A filed herewith.

(d)-(e)

During the last five years, none of the Reporting Persons, or to the best of their knowledge, any Covered Persons (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceedings was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Item 4.    Purpose of the Transaction

Item 4 of the Schedule 13D is hereby amended and supplemented by the addition of the following:

On August 10, 2016, Fund III sold 649,610 shares of Common Stock, Fund IIIA sold 11,907 shares of Common Stock and Fund IV sold 4,338,483 shares of Common Stock, in each case for $1.25 per share, in privately