NATURAL GAS SERVICES GROUP INC (NGS): debt financing — NGS increases credit facility to $50M from $30M, revises interest rate margins upward

NATURAL GAS SERVICES GROUP INC

Lender commitment raised from $30M to $50M under amendment with Texas Capital Bank.
Applicable margin increased; base rate loans now 2.00%-2.50%, Term SOFR loans 3.00%-3.50% based on leverage.
Initial pricing set at Level 1 (leverage <1.00x) with 2.00% Base Rate margin and 3.00% Term SOFR margin.
Commitment fee remains 0.250% per annum.
Guarantor NGSG Properties, LLC reaffirmed its guarantee and security interests.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NATURAL GAS SERVICES GROUP INC amended credit facility of increase the lender commitment from $30 million to $50 million with Texas Capital Bank.

Instrument: credit facility
Principal: increase the lender commitment from $30 million to $50 million
Counterparty: Texas Capital Bank
Event: amendment

Exact text from the filing

The Amendment amends certain provisions under our existing credit facility with the Lender, primarily to (i) increase the lender commitment from $30 million to $50 million, and (ii) revise the applicable margin definition used to calculate the interest rate charged on outstanding loan amounts, with the overall effect of increasing the interest rate on the credit facility.

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Source: SEC EDGAR

accession 0001084991-23-000007

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