Cooper Cameron Enters Into New Revolving Credit Agreement
Cooper Cameron Corporation has entered into a Revolving Credit Agreement with a syndicate of relationship banks led by Bank One, NA.
The new agreement provides Cooper Cameron with borrowing capacity of up to $150 million of floating-rate revolving credit advances, maturing on March 5, 2003, and requires a facility fee of 0.10 percent on the committed amount. This facility replaces the Company's previous revolving credit agreement, which was to expire on March 31, 2002. At March 20, 2002, the Company had approximately $145 million available under the new facility.