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Drilling Tools International (DTI) has issued an announcement.
Drilling Tools International Corporation has revamped its financial strategy by refinancing its credit facilities with a new $80 million revolving credit line and a $25 million term loan through PNC Bank. This strategic move, set to mature in 2029, comes with stipulations such as maintaining a debt-to-EBITDA ratio below 3:1 and a fixed charge coverage ratio above 1:1, while also imposing operational limitations on the company and its subsidiaries. The announcement was formally made via a press release on March 18, 2024, signaling a significant shift in the company’s approach to managing its capital structure.
See more data about DTI stock on TipRanks’ Stock Analysis page.