HOUSTON–(BUSINESS WIRE)–Forum Energy Technologies, Inc. (NYSE: FET) announced today it has entered into an amendment to its senior secured asset-based lending creditHOUSTON–(BUSINESS WIRE)–Forum Energy Technologies, Inc. (NYSE: FET) announced today it has entered into an amendment to its senior secured asset-based lending credit

FET Extends Credit Facility Maturity to February 2031

2 min read

HOUSTON–(BUSINESS WIRE)–Forum Energy Technologies, Inc. (NYSE: FET) announced today it has entered into an amendment to its senior secured asset-based lending credit facility (“Credit Facility”). Wells Fargo Bank, National Association, JPMorgan Chase Bank, N.A., and Bank of America, N.A., acted as joint lead arrangers and joint book runners. Wells Fargo Bank, National Association, will continue to act as the administrative agent.

Lyle Williams, Executive Vice President and Chief Financial Officer, remarked, “This amendment further strengthens FET’s balance sheet, and we appreciate our bank group’s support. The Credit Facility commitments of $250 million provide significant flexibility for FET to fund strategic initiatives, including long-term debt retirement, organic investments and acquisition opportunities. We are focused on our pursuit of realizing FET 2030.”

The amendment’s key elements include: (i) the maturity has been extended, subject to certain exceptions, to February 2031; (ii) the total amount of letters of credit that may be issued was increased to $110 million; and (iii) interest rates on borrowings outstanding were modified to an excess availability-based structure with improved pricing. The full text of the amended Credit Facility will be filed with the U.S. Securities and Exchange Commission on a Current Report on Form 8-K.

FET is a global manufacturing company, serving the oil, natural gas, defense, and renewable energy industries. With headquarters in Houston, Texas, FET provides value added solutions aimed at improving the safety, efficiency, and environmental impact of our customers’ operations. For more information, please visit www.f-e-t.com.

Contacts

Company Contact
Rob Kukla
Director Investor Relations
281.994.3763
[email protected]

Market Opportunity
Lorenzo Protocol Logo
Lorenzo Protocol Price(BANK)
$0.03718
$0.03718$0.03718
+4.05%
USD
Lorenzo Protocol (BANK) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

XRP Enters ‘Washout Zone,’ Then Targets $30, Crypto Analyst Says

XRP Enters ‘Washout Zone,’ Then Targets $30, Crypto Analyst Says

XRP has entered what Korean Certified Elliott Wave Analyst XForceGlobal (@XForceGlobal) calls a “washout” phase inside a broader Elliott Wave corrective structure
Share
NewsBTC2026/02/05 08:00
Republicans are 'very concerned about Texas' turning blue: GOP senator

Republicans are 'very concerned about Texas' turning blue: GOP senator

While Republicans in the U.S. House of Representatives have a razor-thin with just a four-seat advantage, their six-seat advantage in the U.S. Senate is seen as
Share
Alternet2026/02/05 08:38
Headwind Helps Best Wallet Token

Headwind Helps Best Wallet Token

The post Headwind Helps Best Wallet Token appeared on BitcoinEthereumNews.com. Google has announced the launch of a new open-source protocol called Agent Payments Protocol (AP2) in partnership with Coinbase, the Ethereum Foundation, and 60 other organizations. This allows AI agents to make payments on behalf of users using various methods such as real-time bank transfers, credit and debit cards, and, most importantly, stablecoins. Let’s explore in detail what this could mean for the broader cryptocurrency markets, and also highlight a presale crypto (Best Wallet Token) that could explode as a result of this development. Google’s Push for Stablecoins Agent Payments Protocol (AP2) uses digital contracts known as ‘Intent Mandates’ and ‘Verifiable Credentials’ to ensure that AI agents undertake only those payments authorized by the user. Mandates, by the way, are cryptographically signed, tamper-proof digital contracts that act as verifiable proof of a user’s instruction. For example, let’s say you instruct an AI agent to never spend more than $200 in a single transaction. This instruction is written into an Intent Mandate, which serves as a digital contract. Now, whenever the AI agent tries to make a payment, it must present this mandate as proof of authorization, which will then be verified via the AP2 protocol. Alongside this, Google has also launched the A2A x402 extension to accelerate support for the Web3 ecosystem. This production-ready solution enables agent-based crypto payments and will help reshape the growth of cryptocurrency integration within the AP2 protocol. Google’s inclusion of stablecoins in AP2 is a massive vote of confidence in dollar-pegged cryptocurrencies and a huge step toward making them a mainstream payment option. This widens stablecoin usage beyond trading and speculation, positioning them at the center of the consumption economy. The recent enactment of the GENIUS Act in the U.S. gives stablecoins more structure and legal support. Imagine paying for things like data crawls, per-task…
Share
BitcoinEthereumNews2025/09/18 01:27