KLX closes $232M senior secured notes due 2030, $125M ABL; redeems 2025 notes

KLX Energy Services Holdings, Inc.

Issued $232M new Senior Secured Floating Rate Cash/PIK Notes due March 2030, plus warrants for 2.37M shares at $0.01.
Closed new $125M ABL credit facility due 2028, with $10M FILO and $25M incremental loan option.
Used proceeds to redeem existing 11.500% senior secured notes due 2025; deposited $97.1M with trustee.
Terminated prior JPM ABL facility, prepaying ~$50.2M, and provided $8.1M cash collateral for letters of credit.
New notes secured by first-priority lien on assets; covenants include total net leverage ratio and capex limits.

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