Superior Energy gets $325 million amended and restated revolver

By Sara Rosenberg

New York, June 1 - Superior Energy Services Inc. closed on a $325 million amended and restated revolving credit facility due June 14, 2011, according to an 8-K filed with the Securities and Exchange Commission on Monday.

JPMorgan and Wells Fargo acted as the co-lead arrangers and bookrunners on the deal that was completed on May 29, with JPMorgan the administrative agent.

Pricing on the revolver can range from Libor plus 250 basis points to 350 bps.

Proceeds were used to replace the company's previous $250 million revolver and are available for capital expenditures, certain acquisitions and general corporate purposes.

Superior Energy is a New Orleans-based provider of oilfield services and equipment to serve drilling and production-related needs of oil and gas companies.

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