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OFS - Calfrac delays interest payment as it tackles balance sheet - July 2020

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Calfrac Well Services deferred a June 15 interest payment on its C$613 million ($448 million) in 8.5% senior unsecured notes due 2028 and is negotiating with its lenders to improve its balance sheet. The completions company also said it is preparing for increased US activity in H2. The notes give it a 30-day grace period before a default. Calfrac said it has drawn $170 million against its $375 million revolving term loan facility and......
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