Weatherford amends credit agreement; ups commitment cap to $1B, draws $40M increase

Weatherford International plc

Sixth Amendment permits future incremental increases up to $1B aggregate commitments, replacing prior $200M cap.
Exercised $40M increase on June 6, 2024, raising revolving facility to $720M from Arab Banking Corp.
As of June 6, 2024: $270.5M outstanding performance LCs, $48.2M revolving LCs, no loans drawn.
Amendment allows up to 3 incremental increases in calendar 2024 after Sixth Amendment effective date.

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