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| Home : Canadian Energy Services & Technology Corp. Announces a New $200 Million Syndicated Credit Facility and the Closing of the Acquisition of Southwest Treating Products, LLC |
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Sep 05
2014 |
Canadian Energy Services & Technology Corp. Announces a New $200 Million Syndicated Credit Facility and the Closing of the Acquisition of Southwest Treating Products, LLC |
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CALGARY, ALBERTA--(Marketwired - Sept. 5, 2014) - Canadian Energy Services & Technology Corp. ("CES" or the "Company") (TSX:CEU)(OTCQX:CESDF) is pleased to announce that it has entered into a new credit facility with a syndicate of lenders led by the Bank of Nova Scotia as Sole Lead Arranger and Sole Administrative Agent. The new credit facility represents an increase to the Company's credit facilities to $200 million from the previous $150 million facility. The new credit facility has a term to maturity of three years, maturing on September 30, 2017 and may be extended by one year upon the agreement of the lenders and CES. In addition, subject to certain terms and conditions, the Company may increase its new credit facility by $100 million to a maximum borrowing of $300 million. The terms in the new credit facility relating to pricing margins on drawn amounts and financial covenants are consistent with the terms of the Company's previous credit facility. |
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| Source:http://www.marketwired.com/mw/release.do?id=1944526&sourceType=3 |
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