Financing ·
Mammoth Energy Services secures $58 million senior secured term loan facility with Bank7
TUSKMammoth Energy Services, Inc.
Mammoth Energy Services' aviation subsidiaries entered into a Loan and Security Agreement with Bank7 providing for up to $58.0 million in senior secured term loans, split between a $25.0 million Term Loan A and a $33.0 million Term Loan B. The facility is intended to finance the acquisition of additional aircraft assets. No amounts were advanced at closing; Term Loan B availability depends on Bank7 selling participation interests of at least $10.0 million. Borrowings bear interest at the greater of 6.25% or the WSJ prime rate plus 0.50%, with monthly principal and interest payments beginning in January 2027 under a 48-month amortization schedule maturing in October 2030. Mammoth Energy Services operates an aviation leasing platform, heavy equipment rental services, fiber optic services, natural sand proppant supply, workforce accommodations, and directional drilling.