secwatch.observer — SEC 8-K summary
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Issuer:     Weatherford International plc (WFRD)
CIK:        0001603923
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001104659-23-036717
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1603923/000110465923036717/0001104659-23-036717-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1603923/000110465923036717/tm2310530d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-036717

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