Newpark Resources amended and extended its outstanding credit agreement, increasing its asset-based revolving loan from $150 million to $200 million and reducing applicable borrowing rates.
Newpark Resources amended its credit agreement to increase the ABL revolver from $90 million to $150 million. Bank of America served as administrative agent for the transaction.
Newpark Resources entered into a new $90 million ABL facility, replacing its existing $150 million credit facility. Bank of America, JPMorgan Chase, First Tennessee Bank and Credit Suisse are part of the bank syndicate providing the facility.