RigNet, Inc. provides managed communications solutions for the upstream oil and gas industry and the company announced today the refinancing of its debt with Comerica Bank. This refinancing will continue the funding of the Company’s strong growth, reduces total borrowing costs as well as simplifies the debt structure. The new debt package includes a fresh term loan facility and equipment line to be used to fund capital expenditures on new customer projects. The new term loan reduces RigNet’s borrowing costs as a result of overall pricing and continued improving financial performance.
RigNet uses leading satellite and networking technologies to provide high-quality solutions for broadband data, voice and video communications, as well as real-time data management. RigNet installs, manages and supports communication systems without requiring their customers to invest in and manage expensive telecommunications equipment. This allows RigNet customers to redirect valuable resources to their core businesses—Houston, Texas
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