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Stock impact report

STEP Energy Services Ltd. Amends and Extends Credit Facility [Yahoo! Finance]

Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS) 
Last bank nova scotia halifax pfd 3 ordinary shares earnings: 2/25 05:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
STEP has entered into a Fourth Amended and Restated Credit Agreement (the "Credit Agreement") with a syndicate of Canadian banks which amends and extends its prior credit agreement. The Credit Agreement includes the following principal terms: a CAD $200 million syndicated facility, a CAD $15 million operating facility, a USD $15 million operating facility; and a three-year term with a maturity date of September 27, 2027. The financial covenants in the Credit Agreement are as follows: Funded Debt to EBITDA Ratio : not more than 3.00:1.00, calculated quarterly on the last day of each Fiscal Quarter on a rolling four quarter basis; and Interest Coverage Ratio : at least 3.00:1.00, calculated quarterly on the last day of each Fiscal Quarter on a rolling four quarter basis. STEP's banking syndicate is led by ATB Financial as Administrative Agent, Co-Lead Arranger and Co-Bookrunner and the Canadian Imperial Bank of Commerce as Syndication Agent, Co-Lead Arranger and Co-Bookrunn Show less Read more
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