Basic Energy Services (BAS) Obtains ABL Facility Temp. Waiver Extension
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Basic Energy Services (BAS), Creditors Make Progresss Towards Finalizing Terms of Deleveraging Transaction
October 17, 2016 11:13 AM EDTBasic Energy Services, Inc. (NYSE: BAS) ("Basic" or the "Company") today announced that the Company, its secured term loan lenders and secured asset-based revolver lenders (collectively, the "Secured Lenders"), and certain of its unsecured bondholders have made substantial progress towards finalizing the terms of a deleveraging transaction. To enable all parties to finish documenting the terms of such transaction, the Company, its Secured Lenders, and certain of its unsecured bondholders have agreed to further extend the previously announced forbearance agreement and waivers as detailed below.
On September 28, 2016, the Company entered into an... More
