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Eclipse Business Capital Provides $77.5MM Revolving Credit Facility to Ranger Energy Services

October 04, 2021, 08:11 AM
Filed Under: Energy Services

Eclipse Business Capital (“EBC”), formerly known as Encina Business Credit, provided a $77.5 million senior secured credit facility consisting of a $50 million revolving credit facility, a $12.5 million M&E term loan facility and a $15 million term loan B facility to a market leader in the oil and gas well services industry.

The credit facility is secured by certain assets and will be used to acquire the certain assets of Basic Energy Services, Inc., payoff existing indebtedness and provide ongoing working capital financing. EBC’s demonstrated track record of executing quickly, coupled with its flexible approach, provided the borrower confidence that its business needs would be met.

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