RAM Energy Resources completes $325 million credit facility Tuesday

By Sara Rosenberg

New York, March 15 - RAM Energy Resources Inc. closed on a new $325 million credit facility on Tuesday, according to a news release.

SunTrust Robinson Humphrey is the agent for the revolver, and Guggenheim Corporate Funding LLC is the agent for the term loan.

The facility consists of a $250 million five-year revolver with an initial borrowing base of $150 million, and a $75 million 51/2-year term loan.

Initial pricing on the revolver is Libor plus 325 basis points. Pricing can range from Libor plus 250 bps to 325 bps based on the percentage of borrowing base used.

Pricing on the term loan is Libor plus 900 bps with a 2% Libor floor.

Proceeds were used to refinance an existing credit facility.

RAM Energy is a Tulsa, Okla.-based independent energy company engaged in the acquisition, exploitation, exploration, and development of oil and gas properties and the marketing of crude oil and natural gas.

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