NABORS INDUSTRIES LTD 8-K

What Happened

• On April 7, 2026, Nabors Industries Ltd. and its wholly owned subsidiary Nabors Industries, Inc. (the borrower) entered an Incremental Joinder to the Amended & Restated Credit Agreement (A&R Credit Agreement) dated June 17, 2024.
• The Joinder increases the Letters of Credit Maximum Amount by $25,000,000. After the increase, Nabors Delaware may have reimbursement obligations under letters of credit outstanding up to $150,000,000 in the aggregate. The change does not affect the company’s revolving loan capacity. The Joinder is filed as Exhibit 10.1 to the Form 8-K.

Key Details

• Date of joinder: April 7, 2026.
• Incremental increase: $25,000,000.
• New aggregate letters-of-credit capacity: $150,000,000.
• Administrative agent: Citibank, N.A.; incremental letters-of-credit facility participant: BOKF, NA dba Bank of Texas.
• The filing also notes creation/adjustment of a direct financial obligation tied to reimbursement obligations under letters of credit.

Why It Matters

• The change gives Nabors greater capacity to issue letters of credit, which supports contractual guarantees and liquidity needs without changing its revolving loan availability.
• For investors, this means Nabors has expanded short-term credit support (up to $150M) that could be drawn as reimbursement obligations if letters of credit are used—potentially increasing contingent obligations that could convert to actual liabilities if drawn.
• The Joinder and related terms are included in the exhibit for review (Exhibit 10.1), so investors seeking full legal detail should read that document.