TSL Express Daily News
The Secured Lender
SFNet's Women in Secured Finance Issue
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March 10, 2025
Source: Yahoo Finance
New $232 Million Senior Secured Notes to mature March 2030
KLX also enters into new $125 Million ABL Credit Facility
Company To Hold 2024 Fourth Quarter/Year End Conference Call on March 14, 2025
HOUSTON, March 7, 2025 /PRNewswire/ -- KLX Energy Services Holdings, Inc. (Nasdaq: KLXE) ("KLX", the "Company", "we", "us" or "our") announced today that it has entered agreements to refinance its existing 2025 senior secured notes by issuing approximately $232 million of senior secured notes due March 2030. The Company also announced it has entered into a new ABL credit facility due March 2028 with a $125 million commitment, a first-in-last-out facility with a $10 million commitment, and a committed incremental loan option with a $25 million commitment. The closing of the refinancing is expected to occur on or about March 11, 2025, subject to certain closing conditions.
Keefer Lehner, EVP and Chief Financial Officer, added, "We are pleased to announce the refinancing of our bonds and ABL, which marks a significant milestone in our ongoing efforts to continue to strengthen KLX's financial position. This refinancing not only extends our debt maturity profile but also provides us with enhanced financial flexibility to execute our strategic initiatives, including accretive, deleveraging M&A via a supportive lender group along with enhanced liquidity features in the ABL.
"With this improved capital structure, we are well-positioned to capitalize on opportunities to delever and grow while delivering value to our shareholders. We look forward to discussing the refinancing when we report Q4 2024 results next week," concluded Lehner.
The Company was advised on the refinancing transactions by TPH&Co., the energy business of Perella Weinberg Partners, and Vinson & Elkins LLP.
2024 Fourth Quarter/Year End Earnings Release and Conference Call Schedule
KLX will report 2024 fourth quarter and year end financial results prior to the Company's live conference call, which can be accessed via dial-in or webcast, on Friday, March 14, 2025 at 9:30 a.m. Eastern Time (8:30 a.m. Central Time).
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What: |
KLX Energy Services 2024 Fourth Quarter/Year End Earnings Conference Call |
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When: |
Friday, March 14, 2025 at 9:30 a.m. Eastern Time / 8:30 a.m. Central Time |
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How: |
Live via phone – By dialing 1-201-389-0867 and asking for the |
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KLX call at least 10 minutes prior to the start time, or |
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Live Webcast – By logging onto the webcast at the address below |
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Where: |
For those who cannot listen to the live call, a replay will be available through March 28, 2025 and may be accessed by dialing 1-201-612-7415 and using passcode 13751933#. Also, an archive of the webcast will be available shortly after the call at https://investor.klx.com/events-and-presentations/events for 90 days. Please submit any questions for management prior to the call via email to KLXE@dennardlascar.com.
About KLX Energy Services Holdings, Inc.
KLX is a growth-oriented provider of diversified oilfield services to leading onshore oil and natural gas exploration and production companies operating in both conventional and unconventional plays in all of the active major basins throughout the United States. The Company delivers mission critical oilfield services focused on drilling, completion, production, and intervention activities for technically demanding wells from over 50 service and support facilities located throughout the United States. KLX's complementary suite of proprietary products and specialized services is supported by technically skilled personnel and a broad portfolio of innovative in-house manufacturing, repair and maintenance capabilities. More information is available at www.klx.com.