KLX Energy Services Holdings, Inc. Closes on New $232 Million Senior Secured Notes and $125 Million ABL Credit Facility

Rhea-AI Summary

KLX Energy Services Holdings (KLXE) has successfully completed a significant refinancing operation, closing on $232 million senior secured notes due March 2030, accompanied by warrants for company common stock purchase. Additionally, the company has secured a new ABL credit facility due March 2028 with a $125 million commitment, including a first-in-last-out facility with a $10 million commitment and a committed incremental loan option of $25 million. This refinancing package replaces the company's existing 2025 senior secured notes.

Positive

• Successful refinancing extends debt maturity from 2025 to 2030 for senior notes
• Secured substantial $125 million ABL credit facility through 2028
• Additional financial flexibility with $35 million in supplementary facilities

Negative

• Potential shareholder dilution due to issuance of warrants with senior notes

HOUSTON, March 12, 2025 /PRNewswire/ -- KLX Energy Services Holdings, Inc. (Nasdaq: KLXE) ("KLX", the "Company", "we", "us" or "our") announced today that it has closed on refinancing its existing 2025 senior secured notes by issuing approximately $232 million of senior secured notes due March 2030 together with warrants to purchase common stock of the Company. The Company also announced it has closed on its 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.

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.

Contacts:	KLX Energy Services
	Keefer M. Lehner, EVP & CFO
	(832) 930-8066
	IR@klx.com
	Dennard Lascar Investor Relations
	Ken Dennard / Zach Vaughan
	(713) 529-6600
	KLXE@dennardlascar.com

 

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SOURCE KLX Energy Services Holdings, Inc.

FAQ

What is the total value of KLXE's new refinancing package announced in March 2025?

KLXE's refinancing package totals $392 million, comprising $232 million in senior secured notes and a $125 million ABL credit facility, plus additional facilities worth $35 million.

When do KLXE's new senior secured notes mature?

KLXE's new senior secured notes mature in March 2030.

What is the size of KLXE's new ABL credit facility and when does it mature?

KLXE's new ABL credit facility has a $125 million commitment and matures in March 2028.

What additional financial commitments are included in KLXE's new credit facility?

The credit facility includes a $10 million first-in-last-out facility and a $25 million committed incremental loan option.