---
schema_version: "secwatch.filing_event.v1"
accession: "0000318833-24-000059"
form_type: "8-K"
ticker: "TISI"
cik: "0000318833"
company_name: "TEAM INC"
filed_at: "2024-10-01T23:59:59+00:00"
generated_at: "2026-05-31T00:00:41.830457+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# TEAM extends ABL credit facility maturity to September 2027, improves pricing

## Summary
- Extended maturity of ABL revolver ($130M), term loan ($27.4M) and DDTL ($35M) from Aug 2025 to Sep 2027.
- Lowered interest margins: Revolver SOFR margin cut to 3.5%-4.25% (was 4.1%-4.6%); DDTL SOFR cut to 8.5%-10% (was flat 10%).
- Expanded borrowing base via increased advance rates; $7.5M minimum availability springing covenant if FCCR falls below thresholds.
- CEO says improved operations enabled better terms; ABL renewal is 'first step' toward further capital structure improvements.

## SEC filing metadata
- accession: 0000318833-24-000059
- form_type: 8-K
- ticker: TISI
- cik: 0000318833
- company_name: TEAM INC
- filed_at: 2024-10-01T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/318833/000031883324000059/0000318833-24-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/318833/000031883324000059/tisi-20240930.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000318833-24-000059
- JSON: https://secwatch.observer/filing/0000318833-24-000059.json
- Plain text: https://secwatch.observer/filing/0000318833-24-000059.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.