Stallion Oilfield launches $215 million credit facility

By Sara Rosenberg

New York, Feb. 14 - Stallion Oilfield Services Ltd. held a bank meeting on Tuesday to launch its proposed $215 million senior secured credit facility, according to a market source.

UBS is the lead arranger on the deal.

The facility consists of a $75 million five-year revolver talked at Libor plus 325 basis points and a $140 million six-year term loan B talked at Libor plus 325 bps, the source said.

Proceeds will be used to fund a group of acquisitions, refinance debt and provide additional liquidity.

Stallion Oilfield is a Houston-based provider of drilling support services.

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