Daily News: August 29, 2017

Ares Provides $45MM Facility to Nuverra Environmental Solutions

Ares Commercial Finance provided a $45 million senior secured credit facility to Nuverra Environmental Solutions.

The credit facility consists of a $30 million revolving line of credit and a $15 million term loan. Proceeds of the financing were used to repay certain existing debt in connection with the company’s emergence from bankruptcy protection and to provide for ongoing working capital.

Headquartered in Scottsdale, AZ, Nuverra provides comprehensive, full-cycle environmental solutions to customers focused on the development and ongoing production of oil and natural gas.