secwatch.observer — SEC 8-K summary
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Issuer:     RPC INC (RES)
CIK:        0000742278
Form:       8-K
Filed at:   2026-07-07T20:27:42+00:00
Accession:  0001104659-26-081292
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/742278/000110465926081292/0001104659-26-081292-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/742278/000110465926081292/res-20260630x8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-081292

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