Oil States International, Inc. Completes Amendment and Restatement of $125 Million Credit Facility
The Firm represented Oil States International, Inc. in connection with the amendment and restatement of its existing asset-based lending facility into a cash flow facility with Wells Fargo Bank, National Association serving as administrative agent. The agreement provides for total commitments of $125 million, consisting of a $75 million revolving credit facility (with the option to increase the revolving credit facility by up to $50 million) and a $50 million multi-draw term loan facility, which will be available to draw through July 28, 2026. The maturity date of the amended credit agreement has been extended to January 28, 2030.
Oil States International is a global oilfield products and services company serving the drilling, completions, subsea, production and infrastructure sectors of the oil and gas industry.
The Simpson Thacher team included Brandan Still, Ron Havas, Kaylee Yocum, Owen Harrison and Nima Mohammadi (Banking and Credit).