Abraxas Petroleum gets $300 million amended and restated facility

By Sara Rosenberg

New York, July 1 - Abraxas Petroleum Corp. closed on a $300 million four-year amended and restated credit facility, according to a news release.

SG Americas Securities LLC acted as sole bookrunner and as a joint lead arranger with Royal Bank of Scotland plc and ING Capital LLC.

Pricing on the facility can range from Libor plus 225 basis points to 325 bps, based on utilization.

The initial borrowing base is $125 million, and approximately $90 million was drawn at closing.

Abraxas is a San Antonio, Texas-based crude oil and natural gas exploration and production company.

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