CES ENERGY SOLUTIONS CORP. ANNOUNCES AMENDMENT AND EXTENSION TO ITS INCREASED CREDIT FACILITY

Canada NewsWire

CALGARY, AB, April 28, 2025

CALGARY, AB, April 28, 2025 /CNW/ - CES Energy Solutions Corp. ("CES" or the "Company") (TSX: CEU) (OTC: CESDF) is pleased to announce that it has successfully entered into an amended and restated credit agreement dated April 28, 2025 (the "Amended and Restated Credit Agreement"), with respect to its syndicated and operating credit facilities (the "Credit Facility"). Led by the Bank of Nova Scotia as Agent and a syndicate including The Toronto-Dominion Bank, ATB Financial, Bank of Montreal, Wells Fargo Bank, Royal Bank of Canada, Canadian Imperial Bank of Commerce, National Bank, and Business Development Bank of Canada, the total size of the increased Credit Facility is approximately C$ equivalent $550.0 million. The Credit Facility, which matures on November 24, 2028, is secured by substantially all of the Company's assets and includes customary terms, conditions and covenants.

"The upsized Credit Facility and improved terms are consistent with the increased size, scale and credit profile of CES. The new Credit Facility provides ample liquidity, optionality on return of capital opportunities, and flexibility to repay and refinance the Senior Notes on our own schedule, on suitable terms, over the coming years. We thank syndicate members for their strong participation in our upsized Credit Facility and for their ongoing partnership.", said Anthony Aulicino, Executive Vice President and Chief Financial Officer.

Highlights of the Amended and Restated Credit Agreement

   -- Total facility size increased by $100.0 million, for an aggregate Credit 
      Facility of approximately C$ equivalent $550.0 million, to maintain 
      flexibility to repay the Company's Senior Notes; 
 
   -- Upsized Canadian facility of $400.0 million, comprised of a $380.0 
      million syndicated revolving facility and a $20.0 million operating 
      facility; 
 
   -- U.S. facility of US$110.0 million, comprised of a US$100.0 million 
      syndicated revolving facility and a US$10.0 million operating facility; 
      and 
 
   -- Accordion feature of C$ equivalent $200.0 million, with the option to 
      exercise on available capacity under either the Canadian or U.S. 
      Facility. 

A redacted copy of the Amended and Restated Credit Agreement will be available on CES' SEDAR+ profile at www.sedarplus.ca in accordance with National Instrument 51-102 -- Continuous Disclosure Obligations, as adopted by the Canadian securities regulatory authorities.

About CES Energy Solutions Corp.

CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CES' business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.

Additional information about CES is available at www.sedarplus.ca or on the Company's website at www.cesenergysolutions.com.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE CES Energy Solutions Corp.

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/CONTACT:

For further information, please contact: Ken Zinger, President and Chief Executive Officer, CES Energy Solutions Corp., (403) 269-2800, Or by email at: info@ceslp.ca; Anthony Aulicino, Executive Vice President and Chief Financial Officer, CES Energy Solutions Corp., (403) 269-2800

Copyright CNW Group 2025 
 

(END) Dow Jones Newswires

April 28, 2025 18:17 ET (22:17 GMT)