---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-023152"
form_type: "8-K"
ticker: "METC"
cik: "0001687187"
company_name: "Ramaco Resources, Inc."
filed_at: "2023-02-17T23:59:59+00:00"
generated_at: "2026-06-19T08:06:29.384715+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Ramaco upsizes credit facility to $175M, extends maturity to 2026

## Summary
- Total facility increased from $40M to $125M revolver plus $50M accordion feature.
- Maturity extended to February 15, 2026.
- Drew $25M at closing to prepay higher-interest purchase notes and for working capital.
- KeyBank lead arranger; syndicate includes Cadence Bank and three other banks.
- CEO cites enhanced liquidity for export growth and debt reduction.

## SEC filing metadata
- accession: 0001104659-23-023152
- form_type: 8-K
- ticker: METC
- cik: 0001687187
- company_name: Ramaco Resources, Inc.
- filed_at: 2023-02-17T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1687187/000110465923023152/0001104659-23-023152-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1687187/000110465923023152/tm2224419d13_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-023152
- JSON: https://secwatch.observer/filing/0001104659-23-023152.json
- Plain text: https://secwatch.observer/filing/0001104659-23-023152.txt

## Key facts
- Debt Financings
  Ramaco Resources, Inc. incurred revolving credit of $175.0 million, consisting of an initial aggregate revolving commitment of the lenders of $125.0 million (the "Credit Fa with Keybank National Association, as administrative agent, collateral agent, lender, swing line lender and issuer; Keybanc Capital Markets, Inc., as lead arranger and sole book runner; Cadence Bank, as syndication agent at base rate plus 1.50% or the secured overnight financing rate plus 2.00% maturing February 15, 2026.
  - Instrument: revolving credit
  - Principal: $175.0 million, consisting of an initial aggregate revolving commitment of the lenders of $125.0 million (the "Credit Fa
  - Counterparty: Keybank National Association, as administrative agent, collateral agent, lender, swing line lender and issuer; Keybanc Capital Markets, Inc., as lead arranger and sole book runner; Cadence Bank, as syndication agent
  - Rate: base rate plus 1.50% or the secured overnight financing rate plus 2.00%
  - Maturity: February 15, 2026
  - Event: incurrence
  source text: Development, Inc. and Ramaco Coal, Inc. (collectively, the “Borrowers”). Pursuant to the Credit and Security Agreement, the Company's overall credit facility increased to $175.0 million, consisting of an initial aggregate revolving commitment of the lenders of $125.0 million (the "Credit Facility") and an accordion feature of $50.0 million available, subject to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1687187/000110465923023152/0001104659-23-023152-index.htm
- Debt Financings
  Ramaco Resources, Inc. incurred term loan of $25,000,000.
  - Instrument: term loan
  - Principal: $25,000,000
  - Event: incurrence
  source text: The Company drew $25,000,000 immediately after entering the Credit and Security Agreement to prepay more expensive debt and for general working capital.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1687187/000110465923023152/0001104659-23-023152-index.htm
- Material Agreements
  Ramaco Resources, Inc. amended Second Amended and Restated Credit and Security Agreement with Keybank National Association, as administrative agent, collateral agent, lender, swing line lender and issuer; Keybanc Capital Markets, Inc., as lead arranger and sole book runner; Cadence Bank, as syndication agent; and such other lenders party thereto valued at $175.0 million (effective 2023-02-15).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Keybank National Association, as administrative agent, collateral agent, lender, swing line lender and issuer; Keybanc Capital Markets, Inc., as lead arranger and sole book runner; Cadence Bank, as syndication agent; and such other lenders party thereto
  - Value: $175.0 million
  - Effective: 2023-02-15
  source text: On February 15, 2023, Ramaco Resources, Inc. (the “Company”) entered into a Second Amended and Restated Credit and Security Agreement (the “Credit and Security Agreement”) by and among: (i) Keybank National Association, as administrative agent, collateral agent, lender, swing line lender and issuer; (ii) Keybanc Capital Markets, Inc., as lead arranger and sole book runner, (iii) Cadence Bank, as syndication agent, (iv) such other lenders that are now or hereafter become a party thereto; and (v) the Company, Ramaco Development, LLC, RAM Mining, LLC, Ramaco Coal Sales, LLC, Ramaco Resources, LLC, Ramaco Resources Land Holdings, LLC, Maben Coal LLC, Carbon Resources Development, Inc. and Ramaco Coal, Inc. (collectively, the “Borrowers”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1687187/000110465923023152/0001104659-23-023152-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.