Weatherford lowers commitments on revolving facility to $2 billion

By Tali Rackner

Norfolk, Va., Feb. 4 – Weatherford International plc amended its credit agreement on Monday to reduce commitments under the senior revolving credit facility to $2 billion from $2.25 billion, according to an 8-K filing with the Securities an Exchange Commission.

The amendment also increases the consolidated debt to total capitalization covenant to 70% for the fiscal quarters ending March 31 and June 30 from 60%.

JPMorgan Chase Bank, NA is the administrative agent.

Weatherford is an oilfield service company based in Baar, Switzerland.

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