---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-000306"
form_type: "8-K"
ticker: "DNOW"
cik: "0001599617"
company_name: "DNOW Inc."
filed_at: "2023-01-03T23:59:59+00:00"
generated_at: "2026-06-20T20:52:03.364152+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# NOW Inc. amends credit agreement to replace LIBOR with SOFR, raise L/C sublimit

## Summary
- Replaces LIBOR with SOFR plus 0.10% credit spread adjustment as interest rate benchmark.
- Increases US letters of credit sublimit from prior amount to $20 million.
- Modifies reporting obligations related to the share repurchase program.
- Second Amendment effective December 29, 2022, with all Lenders consenting.

## SEC filing metadata
- accession: 0001193125-23-000306
- form_type: 8-K
- ticker: DNOW
- cik: 0001599617
- company_name: DNOW Inc.
- filed_at: 2023-01-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1599617/000119312523000306/0001193125-23-000306-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1599617/000119312523000306/d407158d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-000306
- JSON: https://secwatch.observer/filing/0001193125-23-000306.json
- Plain text: https://secwatch.observer/filing/0001193125-23-000306.txt

## Key facts
- Debt Financings
  DNOW Inc. amended credit facility with Wells Fargo Bank, National Association at SOFR plus existing applicable margin plus a credit spread adjustment of 0.10% pe.
  - Instrument: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Rate: SOFR plus existing applicable margin plus a credit spread adjustment of 0.10% pe
  - Event: amendment
  source text: The Second Amendment amends certain terms, provisions and covenants of the Credit Agreement, including, among other things: (i) replaces the London Interbank Offered Rate (LIBOR) with the secured overnight financing rate (SOFR) as the interest rate benchmark with the existing applicable margin plus a credit spread adjustment of 0.10% per annum; (ii) modifies certain reporting obligations with respect to the Company’s share repurchase program; and (iii) increases the sublimit for US letters of credit to $20 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1599617/000119312523000306/0001193125-23-000306-index.htm
- Material Agreements
  DNOW Inc. amended Second Amendment with Wells Fargo Bank, National Association and the lenders party thereto (effective 2022-12-29).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association and the lenders party thereto
  - Effective: 2022-12-29
  source text: On December 29, 2022, NOW Inc. (the “Company”, and together with certain direct and indirect subsidiaries of the Company, the “Borrowers”) entered into a second amendment (the “Second Amendment”) to the existing senior secured credit facility dated as of April 30, 2018, among the Borrowers, the lenders party thereto and Wells Fargo Bank, National Association serving as the administrative agent, an issuing lender and swing lender (as amended, the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1599617/000119312523000306/0001193125-23-000306-index.htm

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