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.
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
Read the magazine on your mobile device
Most Viewed: Securitization
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||6,103||21||10.16|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||65,088.22||185||9.37%|
|3||Wells Fargo Securities||56,145.09||163||8.08%|