secwatch.observer — SEC 8-K summary
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Issuer:     Coterra Energy Inc. (CTRA)
CIK:        0000858470
Form:       8-K
Filed at:   2024-12-16T23:59:59+00:00
Accession:  0001104659-24-128602
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coterra enters $1.0B term loan to fund two Permian Basin acquisitions
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- Tranche A ($500M) funds Franklin Mountain acquisition; Tranche B ($500M) funds Avant acquisition.
- Loans bear interest at SOFR plus 0.10% credit spread plus margin of 100-187.5 bps depending on credit rating.
- Tranche A matures 2 years after funding; Tranche B matures 3 years after funding.
- Ticking fee 10-25 bps on undrawn commitments; maximum leverage ratio 3.0x.
- Commitments terminate if acquisitions not closed by June 30, 2025 (Tranche A) or Feb 17, 2025 (Tranche B).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/858470/000110465924128602/0001104659-24-128602-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/858470/000110465924128602/tm2430815d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-128602

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