NPK International Secures $150 Mln Revolving Credit Facility With Expansion Option

(RTTNews) - NPK International Inc. (NPKI) has entered into a new five-year credit agreement effective June 20, 2025.

The agreement includes a $150 million revolving loan facility, replacing the company's previous asset-based credit line. It also features an accordion option to expand the facility to $250 million if needed.

The interest rates on the revolving loans are based on either Term SOFR plus 175-225 basis points or the Base Rate plus 75-125 basis points, depending on NPK's consolidated leverage ratio as defined in the agreement.

The lending group includes Bank of America, N.A., Amegy Bank, Regions Bank, First Horizon Bank, Texas Capital Bank, and Woodforest National Bank.

NPK's CFO, Gregg Piontek, expressed appreciation for both longstanding and new banking partners, stating that the enhanced credit facility will increase liquidity and flexibility, supporting the company's long-term growth plans and shareholder value creation.

Additional details will be provided in NPK's Form 8-K filing with the SEC by June 26, 2025.

NPKI currently trades at $8.49 or 0.75% higher on the NYSE.