Tuesday, June 9, 2009

RigNet Refinances Debt

Houston-based RigNet said last week that the firm has consolidated and refinanced the firm's debt, in a deal led by Bank of America N.A., along with Comerica. The firm did not disclose the amount of the debt financing, but said the financing would allow it to fund its growth opportunities, reduce borrowing costs, and simplify its debt structure. RigNet provides remote communications and IP networking to remote locations for the oil and gas industry, including installation and management.