NABORS INDUSTRIES LTD (NBR): Entry into a Material Definitive Agreement
NABORS INDUSTRIES LTD (NBR) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. EX-10.1 2 tm2621313d1_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 Execution Version WAIVER TO THE CREDIT AGREEMENT WAIVER TO THE CREDIT AGREEMENT , dated as of July 23 , 2026 (this “ Waiver ”), by and among NABORS INDUSTRIES, INC., a Delaware corporation (“ Borrower ”), NABORS INDUSTRIE
How this was made
The 30-second read
Why it matters
By waiving limitations in Section 6.07 that restrict certain debt repayments, the company can proceed with redeeming up to $100m in aggregate principal amount, subject to waiver effectiveness conditions (executed counterparts, expenses, representations true, and no continuing default).
Market read
Covenant flexibility for a defined note redemption is a concrete capital-structure catalyst that can influence credit spreads and near-term risk perception.
What to watch
Traders may need the redemption execution details (timing, redemption price/premium, and whether it changes liquidity headroom) which are not included in the provided excerpt.
Background
Nabors entered an amended and restated credit agreement in June 2024 and sought lender waivers to permit a partial redemption of its 9.125% senior priority guaranteed notes due 2030.
Ticker impact
Nabors disclosed a July 23, 2026 waiver allowing it to redeem up to $100m of 9.125% senior priority guaranteed notes due 2030.
Likely modest, with focus on whether the redemption signals improved liquidity or higher leverage tolerance; direction depends on bond yield and equity credit-spread reaction.
This is a primary 8-K credit agreement waiver tied to a specific redemption amount, but the excerpt does not include redemption timing, pricing, or net leverage impact, limiting precision.
Market effects
Signals ongoing capital-structure management among energy services issuers, where covenant flexibility can affect credit spreads.
Limited, as the filing is company-specific and not a broad regional macro shock.
Low; the waiver is tied to Nabors’ specific notes and lender group rather than a global credit event.
Counterpoint
The waiver may simply facilitate a routine redemption without improving fundamentals, so equity reaction could be muted or negative if it implies constrained cash generation.
Key entities
- issuerNabors Industries Ltd
Borrower/Holdings entity seeking a waiver to redeem up to $100m of specified notes due 2030.
- administrative_agentCitibank, N.A.
Administrative agent under the credit agreement and waiver.
