secwatch.observer — SEC 8-K summary
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Issuer:     PATTERSON UTI ENERGY INC (PTEN)
CIK:        0000889900
Form:       8-K
Filed at:   2025-02-03T23:59:59+00:00
Accession:  0000889900-25-000028
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Patterson-UTI enters $500M credit facility maturing Jan 2030; amends prior agreement
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- $500M revolving credit facility with Wells Fargo; matures Jan 31, 2030.
- LC subfacility of $100M, swing line subfacility of $50M; possible increase to $700M.
- Interest on SOFR loans + margin 1.25%-2.25% based on credit rating.
- Financial covenant: total debt to capitalization ratio not exceed 50%.
- Restricted payment covenant triggers if below investment grade (DSCR ≥1.50:1).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889900/000088990025000028/0000889900-25-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889900/000088990025000028/pten-20250131.htm
  HTML page:      https://secwatch.observer/filing/0000889900-25-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer