Cactus Inc. Amends Credit Facility to Add $100 Million Term Loan Option
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Cactus Inc. has amended its credit agreement with JPMorgan Chase Bank to include a new $100 million term loan option. This loan, secured by machinery and equipment, will be used for acquiring membership interests in Baker Hughes Pressure Control LLC. The facility allows for two draws within six months and matures three years after the first funding. The revolving credit facility's maturity is extended to December 1, 2030, and collateral now includes additional equipment and intellectual property.
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