Patterson-UTI signs $500 million senior unsecured credit facility maturing January 2030
Patterson-UTI Energy entered a Second Amended and Restated Credit Agreement on January 31, 2025, providing $500 million of committed senior unsecured revolving credit that matures January 31, 2030. The filing replaces the company's credit agreement dated March 27, 2018 and sets borrowing costs tied to its credit rating.
Key points
- Facility commitments of $500 million, with a $100 million letter of credit sub-facility and a swing line sub-facility of up to $50 million
- Maturity date of January 31, 2030; commitments may be increased by up to $200 million, to a maximum of $700 million, subject to conditions
- SOFR loans priced at a margin of 1.25% to 2.25% plus a 0.10% adjustment, with the margin set by the company's credit rating
- Financial covenants include a total debt to capitalization ratio not exceeding 50% at each fiscal quarter end
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 03, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.