Bri-Chem renews $25M credit facility with CIBC, aligning debt with business needs until April 2027

Bri-Chem Corp. has renewed its senior credit facility with the Canadian Imperial Bank of Commerce (CIBC) for $25 million, effective until April 30, 2027. The borrowing base was reduced from $37.5 million to $25 million to better match the company's current financial needs and reduce fees. The facility carries interest rates tied to the Canadian prime rate or alternative benchmarks, with security over inventory and receivables. This renewal supports Bri-Chem's ongoing operations and capital efficiency in the oilfield chemical distribution sector.