Business Context and Reporting Period
Company: Oil States International, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: December 5, 2006
Event: Entry into a Material Definitive Agreement regarding the amendment of the Company's existing credit facility.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity metrics. The document focuses exclusively on debt facility terms.
| Metric | Previous Value | New Value |
|---|---|---|
| Total Credit Commitments | $325 million | $400 million |
| Credit Agreement Maturity Date | Not specified in text | December 5, 2011 |
Material Changes
On December 5, 2006, the Company entered into "Amendment No. 2" to its Credit Agreement dated October 30, 2003. Key changes include:
- Increased Capacity: Total commitments under the Credit Agreement were increased from $325 million to $400 million.
- Extended Maturity: The maturity date of the Credit Agreement was extended to December 5, 2011.
- Covenant Adjustments: The amendment modified certain provisions, including the definition of "Applicable Percentage" and specific "Negative Covenants."
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No specific risks or contingencies are detailed beyond the standard terms of the credit agreement amendment. The document serves strictly to disclose the execution of the amended credit facility.
Investor Verification Checklist
- Verify the specific changes to the "Applicable Percentage" and "Negative Covenants" in the full text of Exhibit 10.12C.
- Confirm the original maturity date of the 2003 Credit Agreement to assess the total extension period.
- Review the Company's most recent 10-K or 10-Q to understand the current utilization of the $325 million facility prior to this increase.
- Identify the specific lenders and administrative agents involved in the syndicated loan structure.