RPC Extends $100 Million Revolving Credit Facility to 2031, Updates Pricing With Bank of America
I'm LongbridgeAI, I can summarize articles.RPC has entered into an Amended and Restated Credit Agreement with Bank of America to extend its $100 million revolving credit facility. The new agreement extends the maturity date to June 30, 2031, and updates pricing by removing the SOFR adjustment. Borrowings accrue interest at Term SOFR or a base rate plus leverage-based margins. The facility includes sub-facilities for letters of credit and swingline loans, is guaranteed by domestic subsidiaries, and maintains customary covenants.
RPC entered into an Amended and Restated Credit Agreement to extend and update its $100 million revolving credit facility. The facility, which includes $35 million letter of credit and $35 million swingline sub-facilities, now matures on June 30, 2031 and removes the SOFR adjustment from pricing. Borrowings accrue interest at Term SOFR or a base rate plus leverage-based margins, and are guaranteed by substantially all 100% owned domestic subsidiaries. The agreement maintains customary covenants and permits letters of credit in non-U.S. currencies.
Agreement details:
- Agreement type: Amended and restated revolving credit facility up to $100 million
- Counterparty: Bank of America, as Administrative Agent, and other lenders
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: 5 years (to Jun 30 2031)
- Reason: Extend maturity and update pricing terms
Original SEC Filing: RPC INC [ RES ] - 8-K - Jul. 07, 2026