North American Construction Group Ltd. announced that on August 1, 2017, the company entered into the current Credit Facility Agreement with a banking syndicate led by National Bank of Canada. The Credit Facility is comprised solely of a revolving loan which allows borrowing of up to $140.0 million, of which letters of credit may not exceed $25.0 million with an ability to increase the maximum borrowings by an additional $25.0 million, subject to certain conditions. The Credit Facility permits additional capital lease debt to a limit of $100.0 million. This facility matures on August 1, 2020, with an option to extend on an annual basis. The credit facility bears interest at Canadian prime rate, U.S. Dollar Base Rate, Canadian bankers' acceptance rate or London interbank offered rate, plus applicable margins. The company is also subject to non-refundable standby fees, 0.35% to 0.65% depending on the company's senior leverage ratio, based on the undrawn portion of the credit facility. The credit facility is secured by a first priority lien on all of the company's existing and after-acquired property.