RAM Energy looking at refinancing and paying down existing debt

By Sara Rosenberg

New York, Oct. 7 - RAM Energy Resources Inc. is evaluating refinancing options for its existing debt, according to a news release.

The company also plans on pursuing asset sales and using proceeds from those sales to repay some of the existing debt.

The company explained in the news release that "based on a review of various alternatives presented by interested parties, RAM has determined that deleveraging the company through targeted asset sales and refinancing the company's existing debt will provide the greatest benefit to current shareholders."

Jefferies & Co. acted as the exclusive financial adviser to assist in the strategic review process.

RAM is a Tulsa, Okla.-based independent energy company.

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