Devon Energy extends credit facility maturity to 2031, removes 10 bps SOFR spread

DEVON ENERGY CORP/DE

Amended credit agreement extends maturity date from March 24, 2030 to March 24, 2031.
Removes the 10 basis point credit spread adjustment on SOFR-based borrowing rates.
Company retains right to request up to three one-year extensions, subject to lender approval.
Amendment involves existing syndicate including Bank of America, Citibank, JPMorgan, and others.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DEVON ENERGY CORP/DE amended First Amendment to Amended and Restated Credit Agreement with the lenders and the letter of credit issuers party thereto and Bank of America, N.A., as administrative agent (effective 2026-03-24).

Action: amendment
Agreement: credit facility
Counterparty: the lenders and the letter of credit issuers party thereto and Bank of America, N.A., as administrative agent
Effective: 2026-03-24

Exact text from the filing

On March 24, 2026, Devon Energy Corporation, a Delaware corporation (the “ Company ”), entered into a First Amendment to Amended and Restated Credit Agreement (the “ Amendment ”), by and among the Company, as borrower, the lenders and the letter of credit issuers party thereto and Bank of America, N.A., as administrative agent, which amends that certain Amended and Restated Credit Agreement, dated as of March 24, 2023

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Source: SEC EDGAR

accession 0001193125-26-122224

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