Business Context and Reporting Period
Company: Oil States International, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 1, 2009
Event: Entry into a Material Definitive Agreement (Amendment No. 3 to Credit Agreement).
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt balances, or liquidity metrics. The document focuses exclusively on the terms of a credit agreement amendment.
Material Changes
On October 1, 2009, the Company entered into Amendment No. 3 to its existing Credit Agreement dated October 30, 2003. Key modifications include:
- Investment Covenants: Combined existing investment limitations for foreign cash and non-cash investments into a single, larger, more broadly defined limitation.
- Permitted Acquisitions: Modified the definition to allow additional flexibility in pursuing foreign acquisitions.
- Unchanged Terms: The Amendment explicitly does not modify financial covenants or the pricing of the Credit Agreement.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or discussion of risks and contingencies beyond the specific terms of the credit agreement amendment. No unusual items were reported.
Investor Verification Checklist
- Review the full text of Amendment No. 3 (Exhibit 10.11E) to understand the specific thresholds of the new combined investment limitation.
- Verify the impact of the expanded "Permitted Acquisitions" definition on the Company's strategic M&A plans.
- Confirm that no other financial covenants or interest rates were altered, as stated in the filing.