Perma-Pipe secures up to $139 million credit facility from J.P. Morgan

Perma-Pipe International Holdings has closed a new global credit facility with J.P. Morgan, providing up to $139 million in total financing capacity. The arrangement consists of a $75 million revolving credit facility, a $14 million term loan, and access to an additional $50 million in incremental capacity.

The new facility is designed to replace and consolidate several existing credit lines held by Perma-Pipe and its subsidiaries across various jurisdictions. By unifying these borrowings into a centralized global structure, the company aims to simplify its financing arrangements and improve liquidity management.

Perma-Pipe intends to use the funds to support working capital, letters of credit, and strategic investments. The increased financial flexibility is intended to facilitate the company's expansion across international markets, including North America and the Middle East.