Secure Energy Services extends C$700 million credit facility to 2019

By Angela McDaniels

Tacoma, Wash., Aug. 25 – Secure Energy Services Inc. extended the maturity date of its C$700 million syndicated credit facility by one year to Sept. 26, 2019, according to a company news release.

There were no changes to the lenders included in the syndicate or their committed amounts, security, covenant terms, borrowing rates or standby fees.

The credit facility continues to include a C$675 million extendible revolving term credit facility and a C$25 million revolving operating facility.

The credit facility has a C$100 million accordion feature and is secured by substantially all of the company’s assets.

The interest rate is the Canadian prime rate plus 45 basis points to 200 bps or the banker acceptance rate plus 145 bps to 300 bps, depending, in each case, on the ratio of consolidated senior funded debt to EBITDA.

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

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