NR 08:28 AM EDT, 03/21/2022 (MT Newswires) -- Enerflex Ltd. (TSX:EFX), a supplier of products and services to the global energy industry, said Monday that it is continuing to progress all matters required to close the proposed purchase of Exterran Corp. (NYSE:EXTN).
The company's shares, which rose 1.5% in Canada on Friday, edged up 0.9% in early Frankfurt trading on Monday.
The company expects to file an information circular about the shareholder approvals that are required for the transaction during the second quarter.
Enerflex recently completed the syndication of a new senior secured revolving credit facility for a three-year term subject to annual extension. Enerflex elected to upsize the facility size to US$700 million ($756.3 million) from US$600 million to provide enhanced liquidity.
The new credit facility is in addition to the fully committed US$925 million five-year bridge loan facility.
S&P Global Ratings and Fitch Ratings recently provided an initial credit rating for the pro forma combination of Enerflex and Exterran.