Natco gets new $80 million credit facility

By Sara Rosenberg

New York, March 17 - Natco Group Inc. closed on a new $80 million credit facility due in March 2007. Wells Fargo Bank and Comerica Bank acted as co-lead arrangers on the deal.

The facility consists of a $45 million term loan and a $35 million revolver.

Proceeds were used to refinance the company's existing credit facility.

"We are pleased with the level of interest our commercial banks showed in the refinancing, and we are pleased with the result. This new loan agreement will allow us to continue executing our business strategy and to maintain positive momentum going into 2004," said Nat Gregory, chairman and chief executive officer, in a company news release.

Natco is a Houston provider of wellhead process equipment, systems and services used in the production of oil and gas.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.