Rex Energy gets $200 million revolver

By Sara Rosenberg

New York, Oct. 3 - Rex Energy Corp. closed on a new $200 million five-year senior secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

KeyBank acted as lead arranger, bookrunner and administrative agent on the deal that closed on Sept. 28, with BNP Paribas acting as syndication agent and Sovereign Bank the documentation agent.

Pricing can range from Libor plus 100 basis points to 175 bps depending on use.

The facility has an initial borrowing base of $75 million.

The facility replaces the company's existing $40 million credit facility and will be used to fund working capital, capital expenditures and for other general corporate purposes.

Rex Energy is a State College, Pa.-based independent oil and gas company.

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