secwatch.observer — SEC 8-K summary
======================================

Issuer:     NATURAL GAS SERVICES GROUP INC (NGS)
CIK:        0001084991
Form:       8-K
Filed at:   2023-03-06T23:59:59+00:00
Accession:  0001084991-23-000019
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NGS enters $175M revolving credit facility, up from $50M prior line
-------------------------------------------------------------------

- New $175M senior secured revolving credit agreement with Texas Capital Bank, maturing Feb 2028; can request up to $125M increase (max $300M).
- Borrowing base as of Jan 31, 2023 was $134M; $45M outstanding at closing.
- Over 85% of committed funding allocated to high horsepower compressor packages; ~60% already contracted under long-term contracts.
- Prior credit line of $50M was nearly fully utilized; new facility supports capex for contracted and prospective contracts.
- Applicable margin: 2.00%-2.75% for Base Rate loans, 3.00%-3.75% for Term SOFR loans, based on leverage ratio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1084991/000108499123000019/0001084991-23-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1084991/000108499123000019/ngs-20230228.htm
  HTML page:      https://secwatch.observer/filing/0001084991-23-000019

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer