Nabors Industries (NYSE: NBR) lifts letters of credit limit to $150M

Q: How much additional letters of credit capacity did Nabors Industries (NBR) obtain?

The company added $25,000,000 of letters of credit capacity. This increase raises the Letters of Credit Maximum Amount under the amended and restated credit agreement to a higher aggregate limit for reimbursement obligations, as specified in the Incremental Joinder executed on April 7, 2026.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Nabors Industries Ltd. entered into an Incremental Joinder to its amended and restated credit agreement on April 7, 2026, through subsidiary Nabors Industries, Inc.

The joinder increases the Letters of Credit Maximum Amount by $25,000,000, allowing letters of credit reimbursement obligations up to $150,000,000 outstanding at any time, without reducing revolving loan capacity.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Letters of Credit Increase: $25,000,000 Letters of Credit Maximum Amount: $150,000,000 Form Type: Form 8-K +1 more

4 metrics

Letters of Credit Increase $25,000,000 Incremental increase under A&R Credit Agreement on April 7, 2026

Letters of Credit Maximum Amount $150,000,000 Aggregate principal amount of reimbursement obligations allowed at any time

Form Type Form 8-K Disclosure of material definitive agreement and related obligation

Exhibit 10.1 Incremental Joinder to Credit Agreement Filed as material contract dated April 7, 2026

Key Terms

Incremental Joinder, A&R Credit Agreement, Letters of Credit Maximum Amount, reimbursement obligations, +1 more

5 terms

Incremental Joinder financial

"entered into an Incremental Joinder to the A&R Credit Agreement"

A&R Credit Agreement financial

"amending the amended and restated credit agreement dated June 17, 2024"

Letters of Credit Maximum Amount financial

"increase in the Letters of Credit Maximum Amount in an aggregate amount equal to $25,000,000"

reimbursement obligations financial

"permitted to issue reimbursement obligations under letters of credit in an aggregate principal amount"

off-balance sheet arrangement financial

"Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement"

Understanding 8-K Material Events →

04/07/2026 - 04:39 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 7, 2026

NABORS INDUSTRIES LTD.

(Exact name of registrant as specified in its charter)

Bermuda		001-32657		98-0363970
(State or Other Jurisdiction of Incorporation or Organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

Crown House 4 Par-la-Ville Road Second Floor Hamilton, HM08 Bermuda		N/A
(Address of principal executive offices)		(Zip Code)

(441) 292-1510

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

	¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of exchange on which registered
Common shares		NBR		NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 1.01 Entry into a Material Definitive Agreement.

On April 7, 2026, Nabors Industries, Inc. (“Nabors Delaware”), a wholly owned subsidiary of Nabors Industries Ltd. (the “Company”), and the Company entered into an Incremental Joinder to the A&R Credit Agreement (the “Joinder”), among themselves, BOKF, NA dba Bank of Texas, as the incremental letters of credit facility participant, the issuing banks party thereto and Citibank, N.A., as administrative agent, joining to and amending the amended and restated credit agreement dated June 17, 2024 (as amended, restated, supplemented or otherwise modified prior to April 7, 2026, the “A&R Credit Agreement”), among Nabors Delaware, the Company, the other guarantors from time to time party thereto, the revolving lenders, the letter of credit facility participants, the issuing banks and other lenders party thereto and Citibank, N.A., as administrative agent.

The Joinder provides for the establishment of an increase in the Letters of Credit Maximum Amount (as defined in the A&R Credit Agreement) in an aggregate amount equal to $25,000,000. After giving effect to the foregoing increase, Nabors Delaware shall be permitted to issue reimbursement obligations under letters of credit in an aggregate principal amount at any time outstanding not in excess of $150,000,000, which shall not affect revolving loan capacity.

A copy of the Joinder, which is filed as an exhibit to this Form 8-K as Exhibit 10.1, is incorporated herein by reference and should be read in its entirety for a complete description of its provisions. The summary in this report is qualified in its entirety by the text of such provisions.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information provided in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
10.1		Incremental Joinder to the Credit Agreement, dated as of April 7, 2026, among Nabors Industries, Inc., as Borrower, Nabors Industries Ltd., as Holdings, BOKF, NA dba Bank of Texas, as the incremental letters of credit facility participant, the Issuing Banks party thereto and Citibank, N.A., as Administrative Agent.*

104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

*		Certain schedules and exhibits have been omitted in accordance with Item 601(a)(5) of Regulation S-K. A copy of any omitted schedule and/or exhibit will be furnished supplementally to the Securities and Exchange Commission upon request.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NABORS INDUSTRIES LTD.

Date: April 7, 2026	By:	/s/ Mark D. Andrews
		Name: Mark D. Andrews
		Title: Corporate Secretary

Source: View Original Filing on SEC EDGAR

FAQ

What credit agreement change did Nabors Industries Ltd. (NBR) disclose?

Nabors Industries Ltd. disclosed an Incremental Joinder to its amended and restated credit agreement. This joinder increases the Letters of Credit Maximum Amount and is documented in a material definitive agreement dated April 7, 2026, involving Nabors Industries, Inc. as borrower and Citibank as administrative agent.

How much additional letters of credit capacity did Nabors Industries (NBR) obtain?

The company added $25,000,000 of letters of credit capacity. This increase raises the Letters of Credit Maximum Amount under the amended and restated credit agreement to a higher aggregate limit for reimbursement obligations, as specified in the Incremental Joinder executed on April 7, 2026.

What is Nabors Industries’ new maximum letters of credit amount?

After the joinder, Nabors Industries, Inc. may have reimbursement obligations under letters of credit up to $150,000,000 outstanding at any time. This figure represents the permitted aggregate principal amount for letters of credit under the amended and restated credit agreement.

Does the increased letters of credit limit affect Nabors Industries’ revolving loan capacity?

The filing states that the higher letters of credit limit does not affect revolving loan capacity. Nabors Industries, Inc. can issue reimbursement obligations under letters of credit up to $150,000,000 while maintaining its existing revolving loan availability under the same credit agreement.

Which parties are involved in Nabors Industries’ Incremental Joinder to the credit agreement?

Key parties include Nabors Industries, Inc. as borrower, Nabors Industries Ltd. as holdings, BOKF, NA dba Bank of Texas as incremental letters of credit facility participant, the issuing banks party thereto, and Citibank, N.A. serving as administrative agent under the amended and restated credit agreement.

Where can investors find the full terms of Nabors Industries’ new credit joinder?

The complete Incremental Joinder is filed as Exhibit 10.1. The company notes that the brief description in the report is qualified in its entirety by the full text of the joinder, which should be read for a detailed understanding of all provisions.

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

EX-10.1 EXHIBIT 10.1 53.7 KB