Item 1.01 Entry into a Material Definitive Agreement.

On July 13, 2021, Nabors Industries, Inc. a Delaware corporation ("Nabors Delaware") and Nabors A.R.F., LLC, a special purpose entity organized under the laws of Delaware ("NARF," and together with Nabors Delaware, the "Nabors Entities"), each an indirect subsidiary of Nabors Industries Ltd. (the "Company"), together with Wells Fargo Bank, N.A. ("Wells Fargo") and Arab Banking Corporation B.S.C., New York Branch, entered into the First Amendment (the "Amendment") to that certain Receivables Purchase Agreement, dated September 13, 2019, among the Nabors Entities, the Purchasers party thereto, and Wells Fargo as Administrative Agent (the "Purchase Agreement"). The First Amendment amends the Purchase Agreement to, among other things:

· Extend the term of the Purchase Agreement to the earliest to occur of


   (i) August 13, 2023, (ii) December 31, 2022, if prior thereto the Company's
   existing revolving credit facility (the "RCF") is not amended to extend its
   termination date to at least October 11, 2024 and immediately after giving
   effect to such amendment the Consolidated Cash Balance of the Company (as
   defined under the RCF, the "Consolidated Cash Balance") is not at least $220
   million, and (iii) July 19, 2022, if on such date any of the 5.5% Senior Notes
   due 2023 of Nabors Delaware remain outstanding;

· Reduce the commitments of the Purchasers under the Purchase Agreement from $250

million to $150 million, with the possibility of being increased up to $200

million;

· Reduce the number of Purchasers from three to two;

· Require weekly reporting under certain circumstances if the Consolidated Cash

Balance falls below $220 million;

· Authorize the Administrative Agent's control over collection accounts in

certain circumstances if the Consolidated Cash Balance falls below $180

million; and

· Add as an event of termination the Consolidated Cash Balance falling below $160


   million and not being cured as provided in the RCF.

Amounts paid by the Purchasers to NARF for the purchase of the receivables pursuant to the Purchase Agreement, as amended pursuant to the Amendment, will accrue Yield for the Purchasers at a Yield Rate equal to the LIBOR Market Index Rate ("LMIR") plus the Applicable Margin of 1.75%; provided that on any day while an Event of Termination has occurred and is continuing, the Yield Rate shall be a rate per annum equal to the sum of 2.00% per annum plus the greater of (i) the Yield Rate as set forth above and (ii) the sum of the Alternative Base Rate in effect on such day plus the Applicable Margin. The Alternative Base Rate is the highest of (i) the Prime Rate, (ii) 0.75% per annum. NARF paid an upfront fee to the Purchasers of 0.20% of the commitments upon the effectiveness of the Amendment.

Capitalized terms used herein but not defined herein shall have the meanings given such terms in the First Amendment, a copy of which is filed as Exhibits 10.1 to this Current Report on Form 8-K. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of thereof, each of which is incorporated by reference herein.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an


           Off-Balance Sheet Arrangement of a Registrant.

(b) The disclosure set forth in Item 1.01 above is incorporated herein by

reference in its entirety.

Item 9.01 Financial Statements and Exhibits.






(d)  Exhibits



Exhibit No. Description



   10.1       First Amendment to the Receivables Purchase Agreement, dated as of
            July 13, 2021, by and among Nabors A.R.F., LLC, Nabors Industries, Inc.,
            Arab Banking Corporation B.S.C. New York Branch, and Wells Fargo Bank,
            N.A.

104         Cover Page Interactive Data File (embedded within the Inline XBRL
            document).

© Edgar Online, source Glimpses