Abraxas Petroleum Corporation Announces Closing Of Amended Credit Facility

Abraxas Petroleum Corporation announced that it has closed its second amended and restated credit facility. The $300 million amended and restated credit facility has an initial borrowing base of $125 million, of which approximately $90 million was drawn at closing. Borrowings under the credit facility will bear an interest rate, based on utilization, of LIBOR plus 2.25% – 3.25%. The tenor on the credit facility is four years and expires in 2015. Société Générale acted as administrative agent and issuing lender, SG Americas Securities, LLC acted as sole bookrunner, and SG Americas Securities, LLC, The Royal Bank of Scotland plc and ING Capital LLC acted as joint lead arrangers for the amended and restated credit facility.