NPK International Inc. (NPKI): debt financing — NPK International enters $150M senior secured revolving credit facility, replacing prior agreement

NPK International Inc.

New $150M revolving credit facility with Bank of America as agent; matures June 20, 2030.
Facility includes $10M letter of credit sublimit and $15M swingline sublimit; up to $100M accordion available.
Interest rates: Term SOFR + 1.75% initial margin, Base Rate + 0.75%; margins step up with leverage ratio.
Financial covenants: maximum Consolidated Leverage Ratio 3.00:1.00 and minimum Fixed Charge Coverage 1.25:1.00.
Facility replaces prior Second Amended and Restated Credit Agreement dated May 2, 2022.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NPK International Inc. incurred revolving credit of $150 million with Bank of America, N.A., as administrative agent, swingline lender and a letter of credit issuer at Term SOFR rate plus a per annum applicable margin maturing June 20, 2030.

Instrument: revolving credit
Principal: $150 million
Counterparty: Bank of America, N.A., as administrative agent, swingline lender and a letter of credit issuer
Rate: Term SOFR rate plus a per annum applicable margin
Maturity: June 20, 2030
Event: incurrence

Exact text from the filing

On June 20, 2025, NPK International Inc., a Delaware corporation (the “Company”), as borrower, and certain of its subsidiaries, as guarantors, entered into a credit agreement (the “Credit Agreement”) with Bank of America, N.A., as administrative agent, swingline lender and a letter of credit issuer, and a group of lenders, including Bank of America, N.A. The Credit Agreement provides for a senior secured revolving credit facility with aggregate commitments of $150 million (the “Facility”)

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Source: SEC EDGAR

accession 0000071829-25-000105

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