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Cadence Bank Provides New $10MM Revolving Credit Facility to Stabilis Solutions

June 13, 2023, 07:55 AM
Filed Under: Energy

Stabilis Solutions, a leading provider of clean energy production, storage, and delivery solutions, successfully arranged a new, $10 million secured revolving credit facility with Cadence Bank. The Facility, which matures in June 2026, includes a $5 million accordion provision, subject to lender approval. The Facility is subject to a borrowing base of eligible accounts receivable. There are currently no borrowings outstanding on the Facility.

Under the terms of the Loan Agreement, all borrowings are secured by the accounts receivable and deposit accounts of Stabilis and its wholly owned subsidiaries.

"The closing of this credit facility in this dynamic financial environment is a testament to our lender relationship and their underlying confidence in our business model," stated Andy Puhala, SVP and Chief Financial Officer of Stabilis. "This facility will provide Stabilis with additional liquidity and greater operating flexibility to further leverage our unique portfolio of LNG and other clean, emerging fueling solutions, consistent with our stated strategic focus."







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