Cactus Wellhead lifts ABL revolver to $80 million, extends to 2027

By Wendy Van Sickle

Columbus, Ohio, July 29 – Cactus Wellhead, LLC entered on July 25 an amendment to its senior secured asset-based revolving credit facility originally dated Aug. 21, 2018 to increase the committed amount by $5 million, to $80 million, according to an 8-K filing with the Securities and Exchange Commission.

Also, the maturity date was extended to July 25, 2027, or such earlier date that is 91 days prior to the maturity date of any debt of Cactus that has a principal balance exceeding $30 million, and the pricing grid was adjusted to reduce the interest rate margins.

Further, the advance rate was increased for investment-grade accounts receivable.

JPMorgan Chase Bank, NA is the bookrunner, lead arranger and administrative agent.

Cactus Wellhead is a Houston-based provider of wellhead services.

© 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.