Weatherford Announces $550 Million Credit Facility with $300 Million Borrowing Capacity
24 Octobre 2023 - 11:00PM
Weatherford International plc (NASDAQ: WFRD) (“Weatherford,”
and, the “Company,” “we,” “us” and “our”) announced a five-year
credit facility that is effective today with aggregate commitments
of $550 million. The facility is comprised of a $250 million
tranche available for performance letters of credit and a $300
million tranche available as a cash revolver. There is also the
optionality of a $200 million accordion based on satisfaction of
certain conditions.
Girish Saligram, President and Chief Executive
Officer of Weatherford, commented, “We are pleased to announce this
significant milestone, which meaningfully enhances our liquidity
and balance sheet flexibility. We appreciate the support of our
bank partners in supporting this noteworthy step and it signifies
continued strengthening of relationships and engagement, enabled by
continued operating performance.”
About Weatherford
Weatherford delivers innovative energy services
that integrate proven technologies with advanced digitalization to
create sustainable offerings for maximized value and return on
investment. Our world-class experts partner with customers to
optimize their resources and realize the full potential of their
assets. Operators choose us for strategic solutions that add
efficiency, flexibility, and responsibility to any energy
operation. The Company operates in approximately 75 countries and
has approximately 18,000 team members representing more than 110
nationalities and 335 operating locations. Visit weatherford.com
for more information and connect with us on social media.
Contact:Mohammed TopiwalaVice President,
Investor Relations and
M&Ainvestor.relations@weatherford.com
For Media:
Kelley HughesSr. Director, Communications & Employee
Engagementmedia@weatherford.com
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