Source Energy Services Announces New Credit Facilities and the Redemption of its Senior Secured Notes

CALGARY, Alberta, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Source Energy Services Ltd. (“Source” or the “Company”) (TSX: SHLE) is pleased to announce that it has completed a comprehensive refinancing of its credit facilities by entering into a new five year $135 million (USD) term loan (the “Term Loan”) with Silver Point Finance, LLC (“Silver Point”) and a new $40 million (CND) revolving asset-backed loan (“CIBC ABL”) facility with the Canadian Imperial Bank of Commerce (“CIBC”). Proceeds from the Term Loan will be used to redeem the outstanding 10.5% Senior Secured Notes due March 15, 2025 (the “Notes”) and repay the outstanding amounts drawn on the Company’s current asset backed loan facility.

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