Gordon Brothers will serve as Ranger Energy Services’ agent in the disposition of excess oil field services equipment and operating assets the company purchased through the Basic Energy Services bankruptcy process.
Eclipse Business Capital provided a $77.5 million senior secured credit facility consisting of a $50 million revolving credit facility, a $12.5 million M&E term loan facility and a $15 million term loan B facility to Ranger Energy Services.
Ranger Energy Services received a debt commitment letter from Eclipse Business Capital for a new $77.5 million credit facility consisting of a $50 million revolving credit facility, a $12.5 million M&E term loan facility and a $15 million term loan B facility.
Basic Energy Services entered into a new $150 million asset-based lending credit facility that is secured by its accounts receivable and related assets.
Basic Energy Services increased its asset-based lending credit facility from $120 million to $150 million. UBS served as administrative agent for the transaction.
Basic Energy Services entered into a $100 million accounts receivable securitization facility with UMB as administrative agent.
Basic Energy Services obtained extensions of its temporary waivers from its secured asset-based revolver lenders. Bank of America and U.S. Bank served as administrative agents for each extension.