Natural Gas Services Group (NGS) has negotiated a $100 million expansion of its existing credit facility, increasing lenders' total commitment to $400 million and also expanding its accordion feature to $100 million, the natural gas compression technologies company said on Tuesday.
The expanded loan facility is expected to provide the company with additional capital supporting its fleet growth, particularly for its large horsepower and electric drive rental compression units, in addition to increasing its financial flexibility.
The revised loan package also will lower the interest rates paid by Natural Gas Services by 50 to 75 basis points and provide more favorable leverage covenants compared with the prior facility beginning in mid-2026, the company said.
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