secwatch.observer — SEC 8-K summary
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Issuer:     W&T OFFSHORE INC (WTI)
CIK:        0001288403
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001104659-24-035220
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

W&T Offshore defers $30.1M principal payments on non-recourse term loan through 2024
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- Deferred $30.1M of principal repayments due in 2024; mandatory payments resume Q1 2025 with optional catch-up via excess cash flow sweep.
- Coupon unchanged at 7.00% fixed; cash interest continues quarterly on ~$114M principal balance as of Dec 31, 2023.
- Amendment fee of $200K paid in four quarterly $50K installments starting Q1 2024.
- Revised prepayment premium: 103% of par May 2024-May 2026, 102% May 2026-May 2027, 101% May 2027 to May 19, 2028 maturity.
- Final maturity unchanged at May 19, 2028; company says modification enhances liquidity without increasing net leverage.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1288403/000110465924035220/0001104659-24-035220-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1288403/000110465924035220/tm249062d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-035220

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