Mammoth Energy Services' Aviation Units Secure Up to $58 Million Term Loan Facility from Bank7
Why It MattersAsset-backed debt on a fleet previously funded without borrowing points to aviation leasing platforms starting to use leverage to finance expansion rather than relying on balance-sheet cash.
Mammoth Energy Services, Inc. (NASDAQ: TUSK) announced that on October 28, 2026, its aviation subsidiaries, Cobra Aviation Services LLC and Leopard Aviation LLC, entered into a loan and security agreement with Bank7 providing for up to $58 million of senior secured term loans. The company expects to use the proceeds to fund the acquisition of additional aviation assets.
The facility consists of a $25 million Term Loan A and a $33 million Term Loan B, each of which may be drawn during the 60-day period following closing. Advances under Term Loan B are subject to certain conditions. The loans bear interest at a floating rate, amortize monthly beginning in January 2027 and mature in October 2030. The facility is secured by the borrowers' aviation assets and guaranteed by Mammoth.
Mark Layton, Mammoth's Chief Financial Officer, said that as of September 30 the total cost of the company's aviation portfolio was approximately $134.9 million, which had been funded without debt. He said the aviation assets are well suited to asset-backed financing and that the facility allows the company to add prudent leverage and fund the next phase of fleet growth while preserving liquidity.
Mammoth describes itself as a growth-oriented company centered on an expanding aviation leasing platform. Through its rental services segment it leases and sells aviation assets and rents heavy equipment used in construction and energy operations.
