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October 18, 2022
Source Energy Services Announces Upcoming Earnings Release
Source is pleased to announce that its third quarter financial results for the period ending September 30, 2022, will be released following the Toronto Stock Exchange market close on November 8, 2022. October 17, 2022
Source Energy Services Completes Refinancing of Senior Credit Facility, Amends Senior Secured Note Indenture and Makes the Payment of Cash Interest
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) is pleased to announce it has closed a new revolving asset backed senior credit facility (the “ABL”) with a syndicate comprised of FGI Worldwide LLC (“FGI”) and CIT Northbridge Credit, as advised by CIT Asset Management LLC (“CIT”), providing access to funding of approximately CAD $75 million (USD $55 million), and has made the August 15, 2022 cash interest payment on its 10.5% senior secured first lien notes due March 15, 2025 (the “Senior Notes”). September 22, 2022
Source Energy Services Update on Refinancing Process and Extension of the Waiver from Lenders under its Credit Agreement
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) announces that it continues to make progress and is now in the final stages of closing the previously announced senior credit facility. September 15, 2022
Source Energy Services Update on Refinancing Process and Receipt of Waiver of Cross Default from Lenders under its Credit Agreement
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) announces that it is in the advanced stages of closing a new USD $60 million senior credit facility. August 15, 2022
Source Energy Services Provides an Update on the Credit Facility Refinancing and Announces Decision to Utilize Interest Payment Grace Period
Source Energy Services (“Source” or the “Company”) announced today that it has made significant progress on the previously announced refinancing of its ABL and Term Loan (the “Credit Facility”) and expects the refinancing to close on or before August 31, 2022. In conjunction with the refinancing and to facilitate an efficient closing, the Company has elected to utilize the 30-day grace period (the “Grace Period”) under the indenture governing its 10.5% senior secured first lien notes due March 15, 2025 (the “Senior Notes”).