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PHX Energy Services Reduces Credit Facility to $70MM
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PHX Energy Services Corp. has provided notice to its lead agent, on behalf of its lenders under its syndicated credit facility, to voluntarily reduce in part the unutilized portion of the Syndicated Facility from CDN$90 million to CDN$70 million.
The reduction in the Syndicated Facility is effective March 14, 2016 and will result in significant further cost savings to the Corporation as a result of reduced standby fees.
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