Secure Energy Services Inc. (TO: SES) entered an amended and restated $700 million syndicated credit facility, the company said Sept. 29.
The four-year committed facility was entered with a syndicate of 10 financial institutions and Canadian Chartered banks, the company added. Its initial maturity date is Sept. 26, 2018, the company said.
The facility consists of a $675 million extendable revolving term credit facility and a $25 million revolving operating facility. This replaces the $400 million syndicated facility, Secure Energy Services said. The facility can be expanded to $800 million through an additional $100 million accordion feature, the company noted.
Calgary, Alberta-based Secure Energy Services Inc. provides fluids and solids solutions to the North American oil and gas industry.
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