Energy infrastructure contractor Willbros Group said it completed amendments to its 2015 term-loan and ABL credit facilities.

According to a related 8-K filing, the Willbros Group amendment was provide by a group of lenders led by JPMorgan Chase as administrative agent and KKR Credit Advisors as arranger.

The amendments establish less stringent term-loan financial covenants beyond the end of the first quarter 2016, which are designed to address the impact of current market conditions. The ABL commitment was reduced from $150 million to $100 million, with an accordion feature to expand up to $175 million. 

These amendments also enable the company to proceed with asset sale initiatives, including the sale of its professional services segment. The amendments approve the sale of certain assets, including discrete assets. Net proceeds will be used for debt reduction and working capital.