Secure Energy extends C$130 million credit facility to July 2022

By Taylor Fox

New York, Sept. 10 – Secure Energy Services Inc. extended its existing C$130 million second-lien credit facility to July 31, 2022, according to a news release.

Secure Energy also entered into interest rate swaps to fix the interest rate at 5.5% to the maturity date.

The facility is secured by substantially all of Secure Energy’s assets but is subordinate to its C$600 million first-lien credit facility, which matures on June 30, 2023.

As of June 30, Secure Energy had drawn C$333 million on the first-lien facility, resulting in available capacity of C$267 million.

Secure is a Calgary, Alta.-based energy services company.

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