Key Energy expects to refinance credit facility in second quarter

By Marisa Wong

Madison, Wis., March 24 – Key Energy Services, Inc. said it has been working with its banks to refinance its credit facility maturing in March 2016. The company is seeking to put a new facility in place prior to the current facility becoming a liability at the end of the first quarter of 2015.

Due to the timing of the negotiation on the terms of the new facility, the company will not complete a refinancing by the end of the first quarter, according to an 8-K filing with the Securities and Exchange Commission.

However, the company believes that it will be able to put a new financing in place during the second quarter.

The company announced it will deliver a presentation to investors at the 2015 Scotia Howard Weil Annual Energy Conference on Tuesday in New Orleans.

Key Energy is Houston-based onshore, rig-based well servicing contractor.

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