11:04 AM EDT, 10/25/2024 (MT Newswires) -- North American Construction ( NOA ) said Friday the maturity of its senior secured credit facility has been extended by one year to Oct. 3, 2027, and increased by 50 million Canadian dollars to CA$525 million ($378.6 million).

The company said the facility, which also allows for an additional CA$400 million of secured equipment financing from third-party providers, up from CA$350 million, provides greater flexibility in operating its Australian and Canadian businesses.

The facility includes a revolver with no scheduled repayments, and sets no limits to available borrowings, it said.

Except for the fixed charge ratio, which has been replaced with an interest coverage ratio, the financial covenants are broadly consistent with the previous agreement, North American Construction ( NOA ) said.

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