Brief: Team Announces Refinancing Of New Capital Structure

Team

18/12/2020 17:27

Dec 18 (Reuters) - Team Inc  TISI.N :
    * TEAM, INC. ANNOUNCES REFINANCING OF NEW CAPITAL STRUCTURE
    * TEAM INC - ENTERS INTO A NEW $250 MILLION SENIOR SECURED
TERM
LOAN THROUGH 2026 LED BY ATLANTIC PARK
    * TEAM INC - ENTERS INTO A NEW $150 MILLION SENIOR SECURED
ABL
CREDIT FACILITY THROUGH 2024 LED BY CITIBANK, N.A.
    * TEAM INC - FINALIZED AGREEMENTS TO REPURCHASE
APPROXIMATELY $137
MILLION OF CONVERTIBLE SENIOR NOTES
    * TEAM INC - WILL RETIRE EXISTING SENIOR SECURED CREDIT
FACILITY,
ELIMINATING SEVERAL MAINTENANCE COVENANTS

Source text for Eikon:  ID:nPn6s4dlXa 
Further company coverage:  TISI.N 

 ((Reuters.Briefs@thomsonreuters.com;))