The company used $7.3 million of cash for capital expenditures, net of equipment sales in the first half of fiscal year 2015 and also made non-cash outlays to lease $3.5 million of capital equipment. The company’s aggregate capital investment during the first half was $10.8 million or 2.9% of revenue. Debt and capital lease obligations net of cash was $155.5 million at November 30, 2014, a ratio of 1.9 times forecasted adjusted EBITDA. During the second quarter, we amended our bank facility, increasing it by $50 million and extending its life to October 2019. As of November 30, 2014, MISTRAS had an undrawn revolver balance of $47 million.
Now, I will comment on the actions we have launched to address the contraction in our margins. During our last call, we listed several initiatives that we are focused on to improve margins during fiscal year 2015 and beyond. These include pricing discussions with our customers, contract operational reviews, a review of SG&A costs, reducing unbillable time in certain international countries, and a plan B for the Canadian oil sands region.
Good progress was made on each of these initiatives during the quarter. Pricing discussions and contract operational reviews are proceeding, several cost initiatives have been taken and more are planned. Improvements that include management changes have been implemented in certain international countries and signs are very promising for the Canadian oil sands region.
For competitive reasons, I will refrain from quantifying customer-related initiatives, other than to say that these conversations are going well and that several of our customers are very open to creative solutions that will help them achieve their goals, while also enabling us to improve our margins. I expect to provide more information regarding these discussions and on-cost reductions in our next call.
We remain confident that this plan will help to improve results in the second half of our present fiscal year and beyond. These initiatives may also provide some upside to second half results beyond what we have forecasted. The management team remains united in our common understanding of what is needed to be done and our shared sense of urgency is strongly supported by our CEO.
With that, Sotirios, I turn it back over to you.
Sotirios J. Vahaviolos, Chairman, President, and CEO, MISTRAS Group, Inc.
Thank you, Jon. As always, I am proud of my team. They have recognized the opportunity in front of us and have created a plan that we are following to drive improve results. Now, we will update you on some key developments in our business.
First, our services segment. The second quarter yielded a very strong and diverse mix of projects, spanned across industries that included both traditional and advanced inspection services as well as engineering and application software design, and implementation services. Specifically, our North American midstream business was especially strong with 15 new pipeline and terminal project awards, many of which are Canadian. These projects will also include such advanced services as automated UT, mechanical integrity, damage reviews, and procedure development supported by our proprietary plant conditioning monitoring software, our PCMS software.
Our chemical business was strong with several new contracts from major multinational customers. One such project is the selection of our PCMS software as the U.S corporate standard for a major European-based chemical company. Our refining business secured to new January turnarounds. Our in-house component inspection business secured a large order to inspect railcar wheels used to transport crude oil.In the power generation sector, we became the primary inspection provider of pressure vessels for a national utility and we gain a multi-year inspection contract for a top five utility company. We also secured two capital projects for the construction of natural gas combined cycle plants.
