Short answer
RPC INC (RES) filed an 8-K current report with the SEC on July 7, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item EX-99.1 (Exhibit EX-99.1). $100M revolving facility retained, including $35M letter-of-credit and $35M swingline sub-facilities.
RPC INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $100M revolving facility retained, including $35M letter-of-credit and $35M swingline sub-facilities
- Maturity extended from June 22, 2027 to June 30, 2031, improving liquidity runway
- SOFR Adjustment removed, potentially lowering floating-rate borrowing costs
- Leverage covenant capped at 2.50:1.00 and debt-service coverage required at 2.00:1.00 when Adjusted EBITDA reaches $50M
- Unused-commitment fee remains 0.20%-0.30%, with pricing tied to quarterly leverage ratios
Item EX-99.1 · Exhibit EX-99.1
- Amended credit agreement extends RPC’s revolving facility, preserving liquidity and refinancing the prior August 31, 2010 agreement
- Borrowing base availability capped at 80% of eligible accounts plus 70% of eligible unbilled accounts
- Pricing tied to leverage, ranging from 1.250%–2.250% over Term SOFR and 0.250%–1.250% over base rate
- Commitment fees range from 0.200%–0.300%, increasing with leverage
- Financial covenants, collateral requirements, borrowing-base limits, and default remedies create ongoing lender constraints
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
Other RPC INC 8-K filings
Get the next RES 8-K as it lands
Follow RES for push alerts, or ask the research agent what this filing means.