Loan & DebtJul 6, 2026, 07:16 AM
ProFrac Secures $300M Credit Facility, Refinances Debt
AI Summary
ProFrac Holding Corp. announced it has secured a new $300.0 million senior secured asset-based revolving credit facility with Eclipse Business Capital LLC, maturing on July 1, 2030. This new facility refinances and replaces the company's previous $275.0 million credit facility. Additionally, ProFrac amended its Senior Secured Floating Rate Notes due 2029 indenture to increase the permitted indebtedness under credit facilities from $275.0 million to $325.0 million, enhancing its financial flexibility and liquidity.
Key Highlights
- ProFrac secured a new $300.0 million asset-based revolving credit facility with Eclipse Business Capital LLC.
- The new credit facility matures on July 1, 2030, extending the previous facility's maturity.
- It replaces the preexisting $275.0 million asset-based revolving credit facility with JPMorgan Chase Bank, N.A.
- The new facility includes an uncommitted accordion feature allowing increases of up to $25.0 million.
- Interest rates for the new facility are based on adjusted term SOFR plus 4.00% to 4.50%, or a base rate plus 3.00% to 3.50%.
- The company amended its Senior Secured Floating Rate Notes due 2029 indenture to increase permitted indebtedness from $275.0 million to $325.0 million.
Price Impact
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