RAM Energy gets $300 million credit facility

By Sara Rosenberg

New York, April 4 - RAM Energy Inc. closed on a new $300 million senior secured credit facility, according to a company news release.

Guggenheim Corporate Funding LLC is the agent on the deal.

The facility consists of a $150 million four-year revolver and a $150 million five-year term loan.

Initial borrowing limits under the facility provide $50 million under the revolver and $90 million under the term loan.

Proceeds from the facility will be used to repay RAM's existing credit facility, under which $83.9 million was outstanding at year-end 2005, to fund expenditures related to the proposed acquisition of RAM by Tremisis Energy Acquisition Corp. and for general corporate purposes.

RAM is a Tulsa, Okla.-based independent oil and gas company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.