Civeo Corporation (NYSE:CVEO, Financial) announced today the completion of a replacement and refinancing of its credit agreement. The new syndicated facility agreement, which consists of a Canadian term loan and three revolving credit facilities, encompasses all of Civeo’s outstanding debt structure. In the leverage neutral transaction, the Canadian term loan was reduced to C$100 million (approximately US$80 million), compared to an outstanding balance of C$216 million (approximately US$175 million) as of June 30, 2021. This reduction was funded via a draw on the Canadian revolving credit facility in an equal and offsetting amount. The syndicated facility agreement has a maturity date of September 8, 2025. In addition, among other things, the new syndicated facility agreement:
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