Calfrac Well Services Ltd. announced that it has entered into an agreement with a syndicate of Canadian financial institutions which amends and extends its credit facilities. The principal amendments to the $250.0 million Credit Facilities include, among others, the following items: an extension of the maturity date from July 1, 2024 to the earlier of: July 1, 2026 or six months prior to the maturity of the Company?s 2020 Second Lien Notes on March 15, 2026; the syndicated facility was increased from $205.0 million to $215.0 million and the operating facility was decreased from $45.0 million to $35.0 million; removing the borrowing base requirement and the Funded Debt to Capitalization and Current Ratio covenants; and introducing an Interest Coverage Ratio covenant of greater than 2.75:1:00 and a Total Debt to EBITDA Ratio covenant of less than 4.00:1:00. As at June 30, 2023 the Interest Coverage Ratio and Total Debt to EBITDA ratio from continuing operations would have been 7.93:1.00 and 1.04:1.00, respectively.