RPC amends credit agreement, extends maturity to 2031, removes SOFR adjustment

RPC INC

Amended and restated $100M revolving credit facility; termination date extended from June 2027 to June 30, 2031.
Removed SOFR Adjustment from pricing; margins remain 1.25%-2.25% (Term SOFR) and 0.25%-1.25% (Base Rate) based on leverage.
Financial covenants unchanged: leverage ratio ≤2.50x and debt service coverage ≥2.00x when EBITDA ≥$50M; else tangible net worth ≥$400M.
Commitment fee on unused portion remains 0.20%-0.30% per annum based on leverage ratio.

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