ClearStream Energy Services amended its asset-based revolving credit facility with TD Bank to increase the maximum borrowings available thereunder to $50 million. The amount available under the ABL facility will vary from time to time based on the borrowing base determined with reference to the accounts receivable of ClearStream and certain of its subsidiaries. The maturity date of the ABL facility is April 14, 2025.
“The higher activity levels experienced in the second and third quarters have increased our need for working capital. We are very pleased with the support that TD has provided since we established the ABL facility with them in April of this year. The ABL facility is an important source of working capital for our growing business,” Barry Card, CEO of ClearStream, said.
