National Energy Services Reunited Corp. (NESR) Form 8-K — Nov 4, 2026
NESR entered into a new 2026 Secured Facilities Agreement with a syndicate of financial institutions on October 29, 2026, providing approximately $747.1 million in total facilities. This includes $298.1 million in term loans, a $5.0 million revolver, and $444.0 million of uncommitted working capital facilities, plus a $152.9 million accordion option. The term loans mature in October 2029 with scheduled repayments over a 36-month term, and bear interest at SOFR or SAIBOR plus a margin of 2.35% to 2.60% depending on leverage. The agreement also ties margins to certain sustainability-related performance measures.
Key figures
- Debt Amount
- $747.1 million total facilities
- Interest Rate
- Term loans: SOFR/SAIBOR + 2.35%-2.60%; revolver: +2.55%-2.80%; working capital: +1.45%
- Maturity Date
- October 2029 (term loans)
- Accordion
- $152.9 million
- Term loan tenor
- 36 months
- Max leverage ratio
- 2.00x Total Net Debt/EBITDA
- Secured term loans
- $298.1 million
- Min interest coverage
- 4.00x
- Min debt service coverage
- 1.25x
- Secured revolving credit facility
- $5.0 million
- Uncommitted working capital facilities
- $444.0 million
AI analysis
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