---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-036717"
form_type: "8-K"
ticker: "WFRD"
cik: "0001603923"
company_name: "Weatherford International plc"
filed_at: "2023-03-27T23:59:59+00:00"
generated_at: "2026-06-17T14:59:47.951944+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Weatherford removes $500M debt prepayment cap, adopts leverage ratio test in credit amendment

## Summary
- Third Amendment removes $500M cap on redemptions; now unlimited subject to funded debt net of cash/EBITDA not exceeding 2.50x.
- Minimum Aggregate Liquidity reduced from $350M to $300M; no Default or Event of Default required.
- Amendment dated March 24, 2023; other material terms of credit agreement unchanged.
- Wells Fargo as administrative agent; lenders include Deutsche Bank, Barclays, Standard Chartered, Morgan Stanley, ATB, Citibank.

## SEC filing metadata
- accession: 0001104659-23-036717
- form_type: 8-K
- ticker: WFRD
- cik: 0001603923
- company_name: Weatherford International plc
- filed_at: 2023-03-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1603923/000110465923036717/0001104659-23-036717-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1603923/000110465923036717/tm2310530d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-036717
- JSON: https://secwatch.observer/filing/0001104659-23-036717.json
- Plain text: https://secwatch.observer/filing/0001104659-23-036717.txt

## Key facts
- Debt Financings
  Weatherford International plc amended credit facility with Wells Fargo Bank, National Association.
  - Instrument: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Event: amendment
  source text: On March 24, 2023, the Borrowers, the Company and the Administrative Agent entered into the Third Amendment to Amended and Restated Credit Agreement (the “Third Amendment”), which permits unlimited prepayments and other Redemptions of indebtedness (which previously was limited to $500,000,000), subject to (i) the ratio of funded debt (net of unrestricted cash in excess of $400 million) to consolidated adjusted EBITDA not exceeding 2.50 to 1.00, (ii) no Default or Event of Default existing and (iii) Aggregate Liquidity equaling or exceeding $300,000,000 (which previously was $350,000,000).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1603923/000110465923036717/0001104659-23-036717-index.htm

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