secwatch.observer — SEC 8-K summary
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Issuer:     Kimbell Royalty Partners, LP (KRP)
CIK:        0001657788
Form:       8-K
Filed at:   2023-06-20T23:59:59+00:00
Accession:  0001104659-23-072895
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kimbell Royalty enters $750M amended credit facility, extends maturity to 2027
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- Amended and restated credit agreement provides senior secured revolving facility up to $750M; initial borrowing base $400M with $400M elected commitments.
- Maturity extended to June 7, 2027; interest at SOFR + 2.75%-3.75% or base rate + 1.75%-2.75% based on utilization.
- Covenants: max Debt/EBITDAX 3.5:1 and min current ratio 1.0:1, tested quarterly from Q2 2023.
- Facility guaranteed by material subsidiaries and secured by substantially all assets, including mortgages on at least 75% of PV-9 of proved reserves.
- Borrowing base redetermined semi-annually; first scheduled redetermination around November 1, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1657788/000110465923072895/0001104659-23-072895-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1657788/000110465923072895/tm2319095d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-072895

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