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Nations EF Advances Additional $2.25MM to Cordy Oilfield Services

July 29, 2014, 06:41 AM
Filed Under: Energy

Cordy Oilfield Services Inc. announced that it has satisfied certain conditions set out in the loan and security agreement with Nations Equipment Finance, LLC (the "Lender") and borrowed the remaining $2.25 million available under the agreement. The aggregate principal amount borrowed is $12.5 million.

A security interest in certain of Cordy's equipment was provided to the Lender with respect to the Loan. These additional proceeds of the Loan will be used for general working capital.

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