Oil States’ $350 Million amended and restated Credit Facility

Simpson Thacher represented Oil States International, Inc. (NYSE: OIS) in connection with the amendment and restatement of its credit agreement contemporaneously with the closing of its private offering of $200 million principal amount of 1.50% convertible senior notes due 2023. The total lender commitments under the amended revolving credit facility are $350 million.

The amended revolving credit facility can be increased up to an incremental $150 million, subject to additional lender commitments. The maturity date of the amended credit agreement has been extended to January 30, 2022.

Oil States International is a global oilfield products and services company serving the drilling, completions, subsea, production and infrastructure sectors of the oil and gas industry. The company, led by Cynthia B Taylor, Philip S Moses and Christopher E Cragg, in 2017 recoreded $670 Million Revenues.

The Simpson Thacher team included Robert Rabalais (Picture), Brandan Still and Osaro Aifuwa (Banking and Credit). Nakita Cuttino also provided valuable assistance.

Involved fees earner: Robert René Rabalais – Simpson Thacher & Bartlett; Brandan Still – Simpson Thacher & Bartlett; Osaro Aifuwa – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Oil States International, Inc. ;


Author: Ambrogio Visconti