Quicksilver gets $150 million revolver

By Sara Rosenberg

New York, Aug. 16 - Quicksilver Gas Services LP closed on a $150 million five-year senior secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Thursday.

Bank of America and BNP Paribas acted as co-lead arrangers and joint bookrunners on the deal that was completed on Aug. 10, with Bank of America as administrative agent, BNP syndication agent, and JPMorgan, The Royal Bank of Scotland and Fortis Capital as co-documentation agents.

Pricing on the revolver can range from Libor plus 125 to 250 basis points, depending on leverage.

There is a $100 million accordion feature.

The revolver can be extended for up to two additional years with the consent of the lenders.

Covenants include a maximum consolidated leverage ratio and a minimum consolidated EBITDA to interest expense ratio.

Quicksilver is a Fort Worth, Texas-based gatherer and processor of natural gas produced from the Barnett Shale formation of the Fort Worth Basin located in north Texas.

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