Newpark Resources amends credit facility amendment

Newpark Resources Inc. (NYSE: NR) has entered into a third amended and restated credit agreement that amends and restates the company's previous credit agreement and increases the revolving loan facility from $125 million to $200 million, while holding borrowing rates and fee terms consistent with the previous credit facility. 

The credit agreement also extends the term of the credit facility through March 2020, conditional upon the satisfactory settlement of our outstanding $172 million in convertible senior notes that mature in October 2017. In the event that the company’s convertible senior notes are not satisfied through redemption, conversion, or refinancing, the credit facility term will expire in July 2017. 

The credit agreement also includes an accordion feature, allowing for the potential expansion of the revolving facility up to a maximum of $325 million. The bank group participating in the facility includes JP Morgan, Bank of America, Wells Fargo, Comerica, Bank of Texas, and Credit Suisse.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...