12.4 C
New York
Saturday, April 13, 2024

Buy now

SECURE Vitality Broadcasts Renewal and Extension of Credit score Facility


CALGARY, AB, Aug. 11, 2022 /CNW/ – SECURE Vitality Providers Inc. (“SECURE”, the “Company”) (TSX: SES) introduced at the moment that it has renewed and prolonged its $800 million Senior Secured Revolving Credit score Facility (“Credit score Facility”) to July 2025.

The renewed and prolonged credit score facility permits SECURE to keep up a wholesome liquidity place and reduces its value of borrowing, saving no less than $2 million over the following 4 quarters in curiosity, letters of credit score, and different credit score facility associated prices in comparison with its earlier pricing grid. The Credit score Facility is supported by commitments from 9 monetary establishments and Chartered Banks. As well as, SECURE maintains a $30 million unsecured letter of credit score facility assured by Export Improvement Canada offering further capability to the Company’s capital construction.

“The profitable renewal and extension of our credit score facility offers enhanced flexibility for capital allocation choices whereas retaining ample liquidity for our ongoing enterprise necessities,” mentioned Chad Magus, Chief Monetary Officer. “We proceed to have a robust banking syndicate that helps our enterprise, and we look ahead to working with them sooner or later.”

ABOUT SECURE

SECURE is a publicly traded vitality infrastructure and environmental enterprise listed on the Toronto Inventory Change (“TSX”). SECURE offers business main midstream infrastructure and environmental and fluid administration to predominantly upstream oil and pure fuel firms working in western Canada and sure areas within the U.S. SECURE’s Midstream Infrastructure enterprise section features a community of midstream processing and storage services, crude oil and water pipelines, and crude by rail terminals positioned all through key useful resource performs in western Canada, North Dakota and Oklahoma. SECURE’s midstream infrastructure operations generate money flows from oil manufacturing processing and disposal, produced water disposal, and crude oil storage, logistics, and advertising and marketing. SECURE’s Environmental and Fluid Administration enterprise section features a community of commercial landfills, hazardous and non-hazardous waste administration and disposal, onsite abandonment, environmental options for website remediation and reclamation, bio-remediation and applied sciences, waste remedy & recycling, emergency response, rail providers, steel recycling providers, in addition to fluid administration for drilling, completion and manufacturing actions.

SOURCE SECURE Vitality Providers Inc.

Cision

Cision

View unique content material: http://www.newswire.ca/en/releases/archive/August2022/11/c6093.html



Supply hyperlink

Related Articles

Stay Connected

0FansLike
3,474FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles