secwatch.observer — SEC 8-K summary
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Issuer:     Weatherford International plc (WFRD)
CIK:        0001603923
Form:       8-K
Filed at:   2024-06-11T23:59:59+00:00
Accession:  0001603923-24-000098
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1603923/000160392324000098/0001603923-24-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1603923/000160392324000098/wfrd-20240606.htm
  HTML page:      https://secwatch.observer/filing/0001603923-24-000098

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer