NCS Multistage Holdings closed a new senior secured credit facility with an aggregate principal amount of $50 million.

According to a related 8-K filing, Wells Fargo Bank served as administrative agent for the U.S. facility, and Wells Fargo Bank Canadian Branch was agent for the Canadian facility.

The facility consists of a senior secured revolving credit facility in an aggregate principal amount of $25 million made available of which up to $5 million may be made available for letters of credit and up to $5 million may be made available for swingline loans and a senior secured revolving credit facility in an aggregate principal amount of $25.0 million made available to the Canadian borrower

Borrowings under the U.S. facility may be made in U.S. dollars, Canadian dollars or Euros and will bear interest at a rate equal to the adjusted base rate or Eurocurrency rate in each case, plus an applicable interest margin as set forth in the credit agreement. Borrowings under the Canadian facility may be made in U.S. dollars or Canadian dollars and will bear interest at the Canadian (Cdn) base rate, Canadian (U.S.) base rate, Eurocurrency Rate or discount rate in each case, plus an applicable interest margin.

Houston-based NCS Multistage Holdings is a provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well completions and field development strategies. The company issued its initial public offering on April 28, 2017.