Rowan gets $155 million revolver

By Sara Rosenberg

New York, June 25 - Rowan Cos. Inc. closed on a new $155 million revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

Wells Fargo acted as the lead arranger, bookrunner and administrative agent on the deal that was completed on June 23. Bayerische Hypo-Und Vereinsbank AG acted as syndication agent and Amegy Bank acted as documentation agent.

There is a $95 million accordion feature.

Proceeds are available for general corporate purposes.

Rowan is a Houston-based provider of a range of onshore and offshore contract drilling services.

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