Forum Energy Technologies, Inc. (NYSE: FET) today announced that it has entered into an amendment to its asset-based revolving credit facility (the “Credit Facility”). The key elements of the amendment include: (i) the maturity has been extended, subject to certain exceptions, to September 2026; (ii) the facility size has been reduced from $250 million to $179 million; and (iii) interest rates on borrowings outstanding under the Credit Facility were modified to LIBOR plus a margin of 2.25% to 2.75%, subject to the Company’s quarterly net leverage. Wells Fargo Bank, National Association, JPMorgan Chase Bank, N.A. and Bank of America, N.A. acted as Joint Lead Arrangers and Joint Bookrunners. Wells Fargo Bank, National Association will continue to act as the administrative agent. Zions Bancorporation, N.A. DBA Amegy Bank remained a lender under the Credit Facility.
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