Post by
mumu55 on Jan 16, 2015 4:57am
PNC Canada, GASFRAC Energy Close $60MM Credit Facility
PNC Canada, GASFRAC Energy Close $60MM Credit Facility
GASFRAC Energy Services Inc. has closed the $60 million debt financing previously announced in a Jun. 4 press release. GASFRAC has entered into a senior secured credit facility with PNC Bank Canada Branch. The facility is a five-year revolving credit facility of up to $60 million, subject to a borrowing base with interest at prime plus 1.5%. Initially $35 million will be available under the facility, with availability subject to increase based on future performance of the corporation. The term of the facility may be accelerated to November 30, 2016, in the event certain conditions related to the facility are not met.
GASFRAC CEO, Jim Hill commented: "We are very pleased to have closed this new revolving credit facility. The refinancing provides the Corporation with increased flexibility as we focus on building our customer base through our expanded fluid systems and strengthened technical sales force."
GASFRAC Energy Services, Inc. is an oil and gas technology and service company headquartered in Calgary, Alberta and the sole provider of gelled LPG fracturing technology and other fluid fracturing systems in North America.
Comment by
BaystreetBrian on Jan 16, 2015 7:26am
Oh boy.....well, at least you didn't date this one.....is this from 2013 or 2014? LMAO
Comment by
Spectakuler on Jan 16, 2015 7:50am
BaystreetBrian (profile) Message to the Community I'm all about winning as a team! This is the problem with todays society. There is only "I" in your team. I'm sure there is no "F" in team either. Hope you get bad karma from LYAO.
Comment by
BaystreetBrian on Jan 16, 2015 7:55am
lmao....I'm all about making money for everyone with good decisions, which gasfrac was not.....if you ever want some money making advice, visit the SL board and read my "EVERYONE" posts