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Drilling Tools International Unveils New Financial Strategy

Drilling Tools International Unveils New Financial Strategy

Drilling Tools International (DTI) has issued an announcement.

Drilling Tools International Corporation has revamped its financial strategy by refinancing its credit facilities with a new $80 million revolving credit line and a $25 million term loan through PNC Bank. This strategic move, set to mature in 2029, comes with stipulations such as maintaining a debt-to-EBITDA ratio below 3:1 and a fixed charge coverage ratio above 1:1, while also imposing operational limitations on the company and its subsidiaries. The announcement was formally made via a press release on March 18, 2024, signaling a significant shift in the company’s approach to managing its capital structure.

See more data about DTI stock on TipRanks’ Stock Analysis page.

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