STEP Energy Services (TSE:STEP) has released an update.
STEP Energy Services Ltd. has revised and prolonged its credit agreement with Canadian banks, securing a CAD $200 million syndicated facility and USD $15 million operating facility, with a new maturity date set for September 27, 2027. The agreement includes financial covenants that ensure a sustainable debt to EBITDA and interest coverage ratio. This strategic financial move underlines STEP’s commitment to maintaining a robust financial foundation while delivering modern and safe energy services.
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