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TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. EXTENDS CREDIT FACILITY REFINANCING TERMS
TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. EXTENDS CREDIT FACILITY REFINANCING TERMS ...
About this update from Tidewater Midstream & Infrastructure Ltd.
[{"type":"text","content":"\n \n \n \n TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. EXTENDS CREDIT FACILITY REFINANCING TERMS\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 June 23, 2022\n \n \n /CNW/ - Tidewater Midstream and Infrastructure Ltd. (\"\n \n Tidewater\n \n \" or the \"\n \n Company\n \n \") (TSX: TWM) along with its senior secured lenders have agreed to extend its previously disclosed deadline to refinance its unsecured notes payable and second lien term loan from\n \n June 30, 2022\n \n to\n \n July 31, 2022\n \n (the \"\n \n Refinancing Transaction\n \n \") in order to support its current refinancing plans. Refinancing Transaction details will be disclosed upon finalization of the terms.\n \n \n Tidewater's business continues to outperform its initial forecasts due to higher refining margins and increased midstream volumes.\n \n \n The Company is working with its senior secured lenders on a potential increase to its credit facility to support this Refinancing Transaction as well as the future growth of its business.  Potential increases to the credit facility are subject to the approval of the senior secured lenders.\n \n \n \n About Tidewater\n \n \n \n Tidewater is traded on the TSX under the symbol \"TWM\". Tidewater's business objective is to build a diversified midstream and infrastructure company in the North American natural gas, natural gas liquids, crude oil, refined product, and renewable energy value chain. Its strategy is to profitably grow and create shareholder value through the acquisition and development of conventional and renewable energy infrastructure. To achieve its business objective, Tidewater is focused on providing customers with a full service, vertically integrated value chain through the acquisition and development of energy infrastructure, including downstream facilities, natural gas processing facilities, natural gas liquids infrastructure, pipelines, railcars, export terminals, storage, and various renewable initiatives. To complement its infrastructure asset base,...