Basic Energy Services is refinancing and expanding its UBS-led credit facility. The oil and gas well servicing company is increasing both its revolver and term loan by $20 million each. The facility will now consist of a $50 million revolver and $160 million term loan. In addition, the term loan spread will be reduced by 50 basis points to LIBOR plus 3%. The revolver pricing will remain the same. It is tied to a leveraged-based grid that ranges from LIBOR plus 2 1/2-3%. Jim Carter, Basic Energy's cfo, did not return calls.
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Wells Fargo Securities||30,371.96||86||8.61%|
|4||Bank of America Merrill Lynch||27,582.56||87||7.82%|