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The latest announcement is out from NOV ( (NOV) ).
NOV Inc. has secured a $1.5 billion unsecured revolving credit facility with Wells Fargo and other lenders, set to mature in September 2029, with options to extend for two additional one-year periods. This new financial arrangement will support the company’s working capital and general corporate needs, with the possibility to expand the borrowing capacity to $2.5 billion if agreed by a majority of lenders. This move comes alongside the termination of a previous $2 billion credit facility that was due to expire in October 2025, concluded without any termination penalties for the company.
See more insights into NOV stock on TipRanks’ Stock Analysis page.
