ProFrac requests full $70 million additional delayed-draw term loan

By Mary-Katherine Stinson

Lexington, Ky., Jan. 23 – ProFrac Holdings II, LLC as borrower and ProFrac Holdings, LLC as a guarantor announced that the request for an additional $70 million of delayed-draw term B loans was funded on Jan. 20, according to an 8-K filing with the Securities and Exchange Commission.

As previously reported, the company’s amended agreement allowed for the company to request delayed-draw term B loans in an aggregate principal amount of up to $150 million. On Jan. 4, some of the existing lenders and some new lenders funded ProFrac II’s request for $80 million of delayed-draw term B loans, resulting in about $599.2 million outstanding under the amended loan agreement.

The company was able to request the additional $70 million before Dec. 31, 2023.

After this transaction, there is approximately $669 million outstanding under the amended term loan agreement, and no additional amount of delayed-draw term B loans are available.

Piper Sandler Finance LLC is the agent and collateral agent.

ProFrac is a Willow Park, Tex.-based oil and gas services company.

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