Integra Group (LSE: INTE), a leading independent provider of diversified oilfield services, and VTB Bank (Deutschland) AG increased their existing term loan facility with permitted reborrowings from US$50 million to US$100 million and extended the tenor by 5 years. Furthermore, the company benefits from improved pricing terms.
"These amendments to our multi-purpose credit line with VTB Bank (Deutschland) AG will further enhance financial flexibility of Integra. We are pleased with the Bank's support and commitment to the company confirmed by years of mutually beneficial relationship," - commented Yuri Baidoukov, CFO of Integra Group.
"We are happy to support the company along its financial strategy. This amended facility is evidence of many years of good cooperation with Integra," - added Igor Strehl, CEO of VTB Bank (Austria) AG, the parent of VTB Bank (Deutschland) AG.
As of today, US$26 million are drawn out of the total facility amount.