ProFrac secured a new senior secured asset-based revolving credit facility of up to $300 million, led by Eclipse Business Capital, with a $25 million accordion and a maturity on July 1, 2030. The company concurrently executed a Seventh Supplemental Indenture to its 2029 senior secured floating rate notes, increasing permitted indebtedness under credit facilities to $325 million with consent from a majority of noteholders. ProFrac used proceeds from the new ABL and cash on hand to repay and terminate its 2022 JPMorgan-led ABL, releasing all associated liens. The actions are intended to strengthen liquidity and align covenant capacity with the company’s borrowing needs.
Agreement 1: ProFrac Secures $300 Million ABL Facility With Eclipse, Maturing 2030
- Agreement type: Senior secured asset-based revolving credit facility
- Counterparty: Eclipse Business Capital and other lenders
- Signed / Effective: Jul 01 2026 / same
- Duration / Termination: Through Jul 01 2030
- Reason: Refinance prior facility and enhance liquidity
Agreement 2: ProFrac Amends 2029 Notes Indenture, Raising Credit Facility Capacity to $325 Million
- Agreement type: Seventh Supplemental Indenture amending Senior Secured Floating Rate Notes due 2029
- Counterparty: U.S. Bank Trust Company
- Signed / Effective: Jul 01 2026 / same
- Duration / Termination: Through 2029 note maturity
- Reason: Increase permitted credit facility indebtedness
Agreement 3: ProFrac Terminates 2022 JPMorgan-Led ABL After Refinancing With New Eclipse Facility
- Agreement terminated: Senior secured asset-based revolving credit facility
- Counterparty: JPMorgan Chase Bank and other lenders
- Original agreement date: Mar 04 2022
- Termination date: Jul 01 2026
- Termination type: Early
- Exit fees / payments: None
- Reason: Replaced by new Eclipse facility
Original SEC Filing:
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