Financing ·
NESR enters $747M secured credit facility to refinance existing debt and fund operations
NESRNational Energy Services Reunited Corp.
National Energy Services Reunited Corp. entered into a new Term and Revolving Facilities Agreement with a syndicate of financial institutions, terminating its 2021 Secured Facilities Agreement. The new agreement provides approximately $747.1 million in total facilities, comprising $298.1 million in secured term loans maturing in October 2029, a $5.0 million revolving credit facility, and $444.0 million in uncommitted working capital facilities. The company must maintain a maximum leverage ratio of 2.00 and minimum coverage ratios. National Energy Services Reunited Corp. provides oilfield services and equipment.