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.

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