RAM Energy Resources Inc. - 2011-03-16
Description
Entered a new $250-million revolving credit facility and a $75-million term loan facility on March 15, replacing its previous maturing credit facility. SunTrust Robinson Humphrey is the agent for the revolving facility, and Guggenheim Corporate Funding LLC is the agent for the term loan facility.
The borrowing base of the new facility was initially set at $150 million versus its previous level of $145 million under the prior facility. All such funds advanced under the revolving facility can be paid down and re-borrowed during the five-year term of the revolver.