Mammoth Energy Services, On October 16, 2023, Entered Into A New Revolving Credit Facility Agreement And A New Term Loan Agreement, Which Refinanced, Mammoth's Indebtedness Outstanding Under Its Previous Revolving Credit Facility
Portfolio Pulse from Benzinga Newsdesk
Mammoth Energy Services has entered into a new revolving credit facility agreement and a new term loan agreement on October 16, 2023. The new five-year revolving credit facility with Fifth Third Bank provides for revolving commitments of up to $75 million. The new five-year term loan agreement with Wexford Capital LP, an affiliate of Mammoth, provides for term commitments of $45 million.
October 19, 2023 | 12:15 pm
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Mammoth Energy Services has secured new credit and term loan agreements, which could improve its financial flexibility.
The new credit and term loan agreements provide Mammoth Energy Services with increased financial flexibility. This could potentially lead to improved financial performance, which may positively impact the company's stock price in the short term.
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