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CES ENERGY SOLUTIONS CORP. ANNOUNCES AMENDMENT AND INCREASE TO ITS SYNDICATED CREDIT FACILITY
CES ENERGY SOLUTIONS CORP. ANNOUNCES AMENDMENT AND INCREASE TO ITS SYNDICATED CREDIT FACI...
About this update from Ces Energy Solutions Corp
[{"type":"text","content":"\n \n \n \n CES ENERGY SOLUTIONS CORP. ANNOUNCES AMENDMENT AND INCREASE TO ITS SYNDICATED CREDIT FACILITY\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Sept. 1, 2022\n \n \n /CNW/ -\n \n CES Energy Solutions Corp.\n \n (\"CES\" or the\n \n \"\n \n Company\") (TSX: CEU) (OTC: CESDF) is pleased to announce that it has successfully entered into a third amended and restated credit agreement dated\n \n September 1, 2022\n \n (the\n \n \"Amended and Restated Credit Agreement\")\n \n with respect to its syndicated and operating credit facilities (the\n \n \"Credit Facility\"\n \n ). Led by the Bank of\n \n Nova Scotia\n \n as Agent and a syndicate including The Toronto-Dominion Bank, Bank of\n \n Montreal\n \n , ATB Financial, and Wells Fargo Bank, the total size of the increased Credit Facility is approximately C$ equivalent\n \n $425.0 million\n \n consisting of a Canadian Syndicated Revolving Facility of\n \n C$250.0 million\n \n \n ,\n \n a Canadian Operating Facility of\n \n C$20.0 million\n \n , a U.S. Syndicated Revolving Facility of\n \n US$110.0 million\n \n , and a U.S. Operating Facility of\n \n US$10.0 million\n \n . The Credit Facility is secured by substantially all of the Company's assets and includes customary terms, conditions and covenants.\n \n \n \n \n \n \n \n \n \n The increase in the size of the Credit Facility is aligned with the increased financial scale of the Company and the strength of its balance sheet, thereby providing flexibility to support the current and future liquidity requirements of the Company's growing business.\n \n \n \n Highlights of the Amended and Restated Credit Agreement\n \n \n \n \n Total facility size increased from approximately C$ equivalent\n \n $315.0 million\n \n to approximately C$ equivalent\n \n $425.0 million\n \n , to support the Company's strong revenue growth trajectory and record financial performance underpinned by key investments in working capital;\n \n \n U.S. facility increased from\n \n US$70.0 million\n \n to\n \n US$120.0 million...