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Stocks in play: Calfrac Well Services Ltd.
Has entered into an agreement with a syndicate of Canadian financial institutions which amends and extends its credit facilities. The principal amendments to the $250.0 million Credit Facilities include, among others, the following items: an extension of the maturity date from July 1, 2024 to the earlier of: (a) July 1, 2026 or (b) six months prior to the maturity of the Company’s 2020 Second Lien Notes on March 15, 2026; the syndicated facility was increased from $205.0 million to $215.0 million and the operating facility was decreased from $45.0 million to $35.0 million; removing the borrowing base requirement and the Funded Debt to Capitalization and Current Ratio covenant. Calfrac Well Services Ltd. shares T.CFW are trading up $0.06 at $5.65.
