Royal Helium’s senior lenders have expanded the company’s debt facilities to fund the final costs for the Steveville helium purification plan in Alberta, Canada.
The Business Development Bank of Canada (BDC) and Canadian Western Bank (CWB) have increased Royal Helium’s debt facilities by a total of C$3.6m. The terms for the capital are the same as the prior agreement, and principal repayment will begin in February 2024.
Andrew Davidson, President and CEO of Royal Helium, said he appreciates the ongoing support and confidence from the senior banking partners.
He added, “Both CWB and BDC have been strong and steadfast partners to Royal through the company’s Steveville facility development process. We are proud to continue and expand upon that relationship as this purification facility is now fulfilling its mission to deliver purified helium to end-markets, with delivery having officially commenced.”
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