Weatherford Announces Expansion of Credit Facility to $1 Billion

Rhea-AI Summary

Weatherford (NASDAQ: WFRD) has announced a significant expansion of its credit facility to $1 billion, marking a $280 million increase from its previous amount. The expanded facility includes a $600 million revolver tranche and $400 million for performance letters of credit, with an accordion feature that could potentially increase commitments to $1.15 billion.

The maturity date has been extended from 2028 to 2030, and the company's pro forma liquidity as of June 2025 stands at $1.5 billion. This expansion strengthens Weatherford's financial position and provides enhanced flexibility for pursuing strategic initiatives.

Positive

• Credit facility increased by $280 million to $1 billion total commitment
• Extended maturity from 2028 to 2030, improving long-term financial stability
• Pro forma liquidity strengthened to $1.5 billion as of June 2025
• Additional flexibility through accordion feature potentially increasing commitments to $1.15 billion

Negative

• Increased debt capacity could potentially lead to higher leverage if fully utilized

News Market Reaction – WFRD

-2.70%

1 alert

-2.70% News Effect

On the day this news was published, WFRD declined 2.70%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOUSTON, Sept. 18, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford,” and the “Company,” “we,” “us” and “our”) announced it has increased its credit facility by $280 million with aggregate commitments of $1 billion, effective today. The facility is now comprised of a $600 million revolver tranche, $400 million allocated to performance letters of credit, an increased accordion feature, which could expand lender commitments to up to $1.15 billion, subject to certain conditions, and extends maturity from 2028 to 2030. As a result of this expansion, the Company’s pro forma liquidity as of June 2025 now stands at $1.5 billion, further enhancing its financial flexibility and supporting long-term strategic initiatives.

Girish Saligram, President and Chief Executive Officer of Weatherford, stated, “The significant expansion of our credit facility further reinforces Weatherford’s financial foundation, giving us the flexibility to pursue our long-term objectives with confidence and discipline. Supported by our strong balance sheet and operational performance, this achievement enhances our ability to invest, innovate, and execute with strength. We are grateful for the trust of our banking partners, whose support underscores the strong relationships that enable our long-term success.”

About Weatherford
Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 17,300 team members representing more than 110 nationalities and 310 operating locations. Visit weatherford.com for more information and connect with us on social media.

For Investors:
Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
investor.relations@weatherford.com

For Media:
Kelley Hughes
Weatherford Global Marketing, Communications & Sustainability
media@weatherford.com

FAQ

What is the new size of Weatherford's (WFRD) credit facility?

Weatherford has expanded its credit facility to $1 billion, representing a $280 million increase from its previous amount.

How is Weatherford's new $1 billion credit facility structured?

The facility consists of a $600 million revolver tranche and $400 million allocated to performance letters of credit, with an accordion feature that could increase commitments to up to $1.15 billion.

What is Weatherford's current liquidity position after the credit facility expansion?

Weatherford's pro forma liquidity as of June 2025 stands at $1.5 billion following the credit facility expansion.

When does Weatherford's expanded credit facility mature?

The expanded credit facility extends the maturity date from 2028 to 2030.

How will the credit facility expansion benefit Weatherford?

The expansion enhances Weatherford's financial flexibility to pursue strategic initiatives, invest, innovate, and execute its long-term objectives with greater confidence.