Friday, October 12, 2007

RigNet Gets New Debt Financing

Houston, Texas-based Rignet, which provides communications services for the oil and gas industry, said Thursday afternoon that it has refinanced the firm's debt with Comerica Bank. The firm said that it has a new term loan facility and equipment line which will be used to fund capital expenditures on its new customer projects. The loan came from Comerica's Technology & Life Sciences Division. Rignet operates a satellite network which connects oil and gas locations for data, voice, and video communications.