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Devon Energy logoDevon Energy DVN

The company said it entered into a First Amendment to its Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, on March 24, 2026. The original agreement is dated March 24, 2023.

8-KEntry into a Material Definitive AgreementFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said it entered into a First Amendment to its Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, on March 24, 2026. The original agreement is dated March 24, 2023.

  2. The company said the Amendment extends the maturity date of the Credit Agreement from March 24, 2030 to March 24, 2031.

  3. The company said it renewed its right to request three 1-year maturity extensions. The extensions require the agreement of lenders holding more than 50% of the aggregate commitments of all lenders.

  4. The company said the Amendment removes the 10 basis points credit spread adjustment applied to SOFR-based rates under the Credit Agreement.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Entry Into Credit Agreement Amendment

The company said it entered into a First Amendment to its Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, on March 24, 2026. The original agreement is dated March 24, 2023.

Source · Based on the filing body and exhibits

Maturity Extended to March 24, 2031

The company said the Amendment extends the maturity date of the Credit Agreement from March 24, 2030 to March 24, 2031.

Source · Based on the filing body and exhibits

Renews Right to Request 1-Year Maturity Extensions

The company said it renewed its right to request three 1-year maturity extensions. The extensions require the agreement of lenders holding more than 50% of the aggregate commitments of all lenders.

Source · Based on the filing body and exhibits

Removes SOFR-Based Rate Credit Spread Adjustment

The company said the Amendment removes the 10 basis points credit spread adjustment applied to SOFR-based rates under the Credit Agreement.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.