Hornbeck Offshore Service (HOS) Announces New $300M Credit Facility

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Hornbeck Offshore Announces New Credit Facility

June 15, 2017 4:01 PM EDT

COVINGTON, La., June 15, 2017 /PRNewswire/ -- Hornbeck Offshore Services, Inc. (NYSE: HOS) ("the Company") announced today that the Company has refinanced its existing $200 million senior secured revolving credit facility (the "Old Credit Facility") with a new first-lien delayed-draw credit facility providing for up to $300 million of term loans (the "New Credit Facility").  The six-year term of the New Credit Facility extends the maturity of the Old Credit Facility from February 2020 to June 2023.

The New Credit Facility enhances the Company's financial flexibility by (i) increasing liquidity from the currently applicable borrowing... More