spray 3-quart saucepan with cooking spray. add mushrooms, basil, garlic and pepper, cook and stir over high heat for 3-4 minutes or until mushrooms are tender.
add broth, water, rice and soup, cook and stir until well blended and mixture begins to boil. reduce heat to low. cover simmer gently for 12 minutes, stirring twice during cooking, or until rice is just tender but still firm.
stir in spinach, cover and let stand 5 to 7 minutes or until spinach is wilted.