Quest Resource Holding Corporation, a provider of environmental waste and recycling services, extended the maturity dates for its existing credit facilities held by Monroe Capital Management Advisors and PNC Bank.
The Monroe credit agreement maturity date was extended to Oct. 19, 2026, among other changes, and the PNC credit agreement’s maturity date was extended to April 19, 2026. In addition, the PNC credit agreement was amended to upsize the revolving credit commitments (as defined in the loan agreement), to adjust the interest rate, and to provide for an equipment term loan of up to $5 million, among other changes.
“Extending our debt maturities meaningfully increases our financial flexibility, and I am grateful for the support and engagement of our lenders. It is a testament to their belief in Quest and to the strength of our core business and ongoing improvements we are making,” S. Ray Hatch, president and CEO of Quest, said.
“On our most recent earnings call, we announced that our board of directors and management team formed a committee that, with the assistance of an independent financial advisor, will evaluate alternative long-term debt structures to lower our cost of capital and support future growth,” Daniel Friedberg, Quest’s chairman of the board, said. “The successful execution of this debt extension is an important first step in the committee’s efforts as we continue to position the company for ongoing success.”
