SAN JUAN BASIN ROYALTY TRUST (SJT): debt financing — San Juan Basin Royalty Trust enters $2M line of credit with Texas Bank; distributions suspended until repayment

SAN JUAN BASIN ROYALTY TRUST

Line of credit of $2M from Texas Bank, secured by all trust assets, to cover administrative expenses.
Purpose: repay excess production costs from Hilcorp's two horizontal wells drilled in 2024 and replenish $2M reserve.
Distributions will resume only after note principal, reserve, and excess costs are repaid.
Interest at prime + 1% (floor 6.5%), monthly payments starting June 21, 2025; matures May 21, 2027.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SAN JUAN BASIN ROYALTY TRUST incurred revolving credit of $2,000,000 with Texas Bank at prime rate plus 1.00%, but no less than 6.50% maturing May 21, 2027.

Instrument: revolving credit
Principal: $2,000,000
Counterparty: Texas Bank
Rate: prime rate plus 1.00%, but no less than 6.50%
Maturity: May 21, 2027
Event: incurrence

Exact text from the filing

The Note is a revolving line of credit. Advances may be requested and repaid from time to time until maturity on May 21, 2027, but may not exceed a total of $2,000,000. Interest only shall be due monthly beginning on June 21, 2025, at the prime rate plus 1.00%, but no less than 6.50%.

View on SEC.gov

Browse all debt financings →

SAN JUAN BASIN ROYALTY TRUST filing history →

Source: SEC EDGAR

accession 0000950170-25-078490

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.