Trican Well Service Ltd.
TSX : TCW

Trican Well Service Ltd.

November 10, 2017 04:00 ET

Trican Amends Revolving Credit Facility

CALGARY, ALBERTA--(Marketwired - Nov. 10, 2017) - Trican Well Service Ltd. ("Trican") (TSX:TCW) is pleased to announce that it has entered into an agreement with its bank lenders which amends and extends its revolving credit facility (the "RCF"). The principal amendments to the RCF include:

  • An 18-month extension of the maturity date from October 18, 2018 to April 18, 2020
  • An ability to pay down the senior and subordinated notes in Trican's credit structure, provided certain pro-forma conditions are met, without a corresponding payment to the bank lenders
  • A reduction in the interest pricing grid and stand-by fees
  • A revised lending syndicate, led by The Bank of Nova Scotia, which is now comprised of six banks.

These amendments have no impact on the RCF commitment level, or financial covenants which remain unchanged. The terms and conditions of the senior and subordinated note agreements also remain unchanged. Trican will pay customary fees and expenses at prevailing market rates to the revised lending syndicate as a condition of this amendment.

Headquartered in Calgary, Alberta, Trican provides a comprehensive array of specialized products, equipment and services that are used during the exploration and development of oil and gas reserves.

Please visit our website at www.tricanwellservice.com

Contact Information

  • Trican Well Service Ltd.
    Dale Dusterhoft
    President and Chief Executive Officer
    E-mail: ddusterhoft@trican.ca

    Trican Well Service Ltd.
    Michael Baldwin
    Senior Vice President, Corporate Development
    E-mail: mbaldwin@trican.ca

    Trican Well Service Ltd.
    Robert Skilnick
    Chief Financial Officer
    E-mail: robert.skilnick@trican.ca

    Trican Well Service Ltd.
    Phone: (403) 266-0202
    Fax: (403) 237-7716
    2900, 645 - 7th Avenue S.W.
    Calgary, Alberta T2P 4G8