Business
NPK Announces New $150 Million Revolving Credit Facility
THE WOODLANDS, Texas, June 23, 2025--NPK International Inc. (NYSE: NPKI) ("NPK" or the "Company") today announced that it has entered into a new credit agreement ("Agreement") effective June 20, 2025, which includes a $150 million revolving loan facility, replacing the Company’s previous asset-based revolving credit facility. The Agreement has a term of five years and also includes an accordion feature, allowing for the expansion of the revolving loan facility up to $250 million. Under the terms
About this update from Npk International Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":293,"url":"https://media.zenfs.com/en/business-wire.com/5869d91943e409e5986d3f16700cc3de"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/pSN1oCk9wi6stR7bqohGiA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU4NjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/5869d91943e409e5986d3f16700cc3de","width":480,"height":293}},"lazy":false},{"type":"text","content":"THE WOODLANDS, Texas, June 23, 2025--(BUSINESS WIRE)--NPK International Inc. (NYSE: NPKI) ("NPK" or the "Company") today announced that it has entered into a new credit agreement ("Agreement") effective June 20, 2025, which includes a $150 million revolving loan facility, replacing the Company’s previous asset-based revolving credit facility. The Agreement has a term of five years and also includes an accordion feature, allowing for the expansion of the revolving loan facility up to $250 million. Under the terms of the Agreement, revolving loans bear interest at either Term SOFR plus 175 to 225 basis points or the Base Rate plus 75 to 125 basis points, with the applicable margin determined based on the Company’s consolidated leverage ratio, as calculated in accordance with the Agreement.","length":828,"tagName":"p"},{"type":"text","content":"The bank group participating in the facility includes Bank of America, N.A., Amegy Bank, Regions Bank, First Horizon Bank, Texas Capital Bank and Woodforest National Bank.","length":171,"tagName":"p"},{"type":"text","content":"Gregg Piontek, NPK's Senior Vice President and Chief Financial Officer, stated, "We are very pleased to have the support of our bank group, including our long-term partners, as well as new partnerships established through this Agreement. The new facility provides expanded liquidity and improved flexibility, better enabling us to execute on our long-term growth strategy and capital allocation priorities, consistent with our focus on driving long-term value creation for our shareholders."","length":505,"tagName":"p"},{"type":"text","content":"For further information regarding the Agreement, please refer to the Company's Current Report on Form 8-K, to be filed with the Securities and Exchange Commission on or before June 26, 202...