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Friday, November 10, 2017

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.

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