Williams refinances, gets $80 million in new debt commitments

By Cady Vishniac

Detroit, Dec. 18 – Williams Industrial Services Group Inc. raised approximately $80 million of total new debt to refinance its existing debt, according to a press release.

The new facilities include a $30 million revolver with PNC, a $35 million senior secured term loan facility and a $15 million delayed-draw term loan facility provided by Energy Impact Partners, CION Investment Corp. and CrowdOut Capital.

The revolver interest rate is Libor plus 225 basis points, and the term loan facility interest rate is Libor plus 900 bps, stepping down to Libor plus 850 bps when the total leverage ratio is lower than 2.5x. There is a 1% Libor floor on both facilities.

The loan facilities mature in December 2025, three years after existing facilities.

Williams is a construction and maintenance services company based in Tucker, Ga.

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