secwatch.observer — SEC 8-K summary
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Issuer:     OIL STATES INTERNATIONAL, INC (OIS)
CIK:        0001121484
Form:       8-K
Filed at:   2026-01-28T23:59:59+00:00
Accession:  0001121484-26-000002
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Oil States replaces $125M asset-based revolver with $125M cash-flow credit facility maturing 2030
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- New $125M facility: $75M revolver (incl. $40M LC sub-limit) plus $50M multi-draw term loan; available to draw through July 28, 2026, maturing Jan 28, 2030.
- Interest at Term SOFR + 2.50%-3.50% or base rate + 1.50%-2.50%; commitment fee 0.375%-0.500% on unused commitments.
- Covenants: interest coverage ≥3.00x, total net leverage ≤2.50x (3.25x in certain periods), senior secured net leverage ≤2.00x.
- In Q4 2025, bought $50M of 4.75% convertible notes due 2026; $53M remain. Cash on-hand $70M at Dec 31, 2025; no borrowings under new facility at Jan 28, 2026.
- Company plans to extinguish remaining 2026 notes with cash and/or borrowings under the new facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1121484/000112148426000002/0001121484-26-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1121484/000112148426000002/ois-20260128.htm
  HTML page:      https://secwatch.observer/filing/0001121484-26-000002

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