Mammoth Energy Services Secures $58 Million Aviation Term Loan Facility from Bank7
Mammoth Energy Services, Inc. (TUSK) has announced that its aviation subsidiaries, Cobra Aviation Services LLC and Leopard Aviation LLC, have entered into a loan agreement with Bank7 for up to $58 million in senior secured term loans. The facility is structured into two parts: a $25 million Term Loan A and a $33 million Term Loan B, both available for draw within 60 days of closing. The company intends to utilize the proceeds to fund the acquisition of additional aviation assets to expand its leasing platform. As of September 30, Mammoth's aviation portfolio was valued at approximately $134.9 million and had been entirely debt-free. This new facility introduces prudent leverage to support fleet growth while maintaining liquidity for other operations.
Topics: asset-backed financing aviation leasing capital expenditure debt issuance