Weatherford International Increases Credit Facility By $40M To $720M, Adds New Lender; Facility Now Includes $327M For Performance Letters Of Credit And $393M For Revolving Loans; Amends Accordion Feature To Allow Expansion Up To $1B
Portfolio Pulse from Benzinga Newsdesk
Weatherford International has increased its credit facility by $40 million to a total of $720 million, adding a new lender. The facility now includes $327 million for performance letters of credit and $393 million for revolving loans. Additionally, the accordion feature has been amended to allow expansion up to $1 billion.
June 11, 2024 | 8:33 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Weatherford International has increased its credit facility by $40 million to $720 million, adding a new lender. This move enhances the company's financial flexibility and liquidity, potentially supporting future growth and stability.
The increase in the credit facility and the addition of a new lender improve Weatherford International's financial flexibility and liquidity. This can support the company's operations and growth, positively impacting investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100