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.