Global Geophysical secures $105M in term loans

|About: Global Geophysical Services, Inc. (GEGSQ)|By:, SA News Editor

Global Geophysical Services (GGS +4.5%) secures $105M in term loan facilities from TPG Specialty Lending And Tennenbaum Capital at a rate of LIBOR +9.75% and a 2016 maturity.

The $82.8M Term A loan will be used to repay Global's current revolver, while the $22.2M Term B loan is intended for "strategic transactions."