Hornbeck Offshore refinances credit line, +19% premarket

|About: Hornbeck Offshore Services,... (HOS)|By:, SA News Editor

Hornbeck Offshore Services (NYSE:HOS) +19.3% premarket after refinancing its existing $200M credit facility with a new first-lien delayed-draw credit facility for up to $300M of term loans.

HOS says the new credit facility increases liquidity from the currently applicable borrowing base of $75M under the old facility, extends the maturity date by more than three years, and eliminates all existing financial ratio maintenance covenants.

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