Core Laboratories amends, extends $300 million revolver, reduces fees

By Aleesia Forni

Columbus, Ohio, Sept. 30 - Core Laboratories NV amended its existing $300 million revolving credit facility, extending the maturity date to Sept. 28, 2016, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Pricing on the revolver was reduced and now ranges from Libor plus 150 basis points to 225 bps, based on the company's consolidated net indebtedness to consolidated EBITDA ratio.

Commitment fees were also reduced and range from 30 bps to 45 bps.

Core Laboratories LP was removed as a borrower and replaced with Core Laboratories Interests Holdings Inc, while Core Laboratories Holding Inc. was added as an additional subsidiary guarantor.

Bank of America NA is administrative agent, swingline lender and letter of credit issuer.

Core Laboratories is a Houston-based provider of production enhancement and reservoir management services for the petroleum industry.

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