Nabors Industries Ltd. entered into an Incremental Joinder to increase its Letters of Credit Maximum Amount by $25 million, raising the total capacity to $150 million.
Key takeaways
Nabors Industries, Inc. and Nabors Industries Ltd. entered into an Incremental Joinder to the A&R Credit Agreement dated June 17, 2024.
The agreement increases the Letters of Credit Maximum Amount by $25,000,000, bringing the total to $150,000,000.
BOKF, NA dba Bank of Texas joined as the incremental letters of credit facility participant.
The increase does not affect revolving loan capacity, providing additional liquidity support specifically for letters of credit.
Citibank, N.A. serves as the administrative agent for the amended credit facility.