Ramaco Resources, Inc. (METC): debt financing — Ramaco prices $57M 8.250% senior notes due 2030 to refinance 9% 2026 notes

Ramaco Resources, Inc.

Principal amount $57M; underwriters have 30-day option for additional $8M.
Interest rate 8.250% per year, maturity July 31, 2030; first interest payment Oct 30, 2025.
Net proceeds ~$55M after discounts; will redeem all outstanding 9.00% 2026 notes.
Third Amendment to credit agreement permits up to $100M new notes; cuts existing unsecured debt basket to $15M plus unused portion.
Offering expected to close July 31, 2025; applied to list under symbol METCI on Nasdaq.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Ramaco Resources, Inc. amended credit facility of Permitted Additional Unsecured Debt reduced from $75,000,000 to $15,000,000 plus unused portion of 2030 Unsecured Note B with KeyBank National Association, as administrative agent and lender; Cadence Bank; Associated Bank; City National Bank; Star Financial Bank; Trustmark National Bank.

Instrument: credit facility
Principal: Permitted Additional Unsecured Debt reduced from $75,000,000 to $15,000,000 plus unused portion of 2030 Unsecured Note B
Counterparty: KeyBank National Association, as administrative agent and lender; Cadence Bank; Associated Bank; City National Bank; Star Financial Bank; Trustmark National Bank
Event: amendment

Exact text from the filing

The Third Amendment Agreement, among other things, amends the Credit Agreement by permitting Ramaco to incur additional indebtedness in the form of the Notes to be issued in the Note Offering, in an aggregate principal amount not to exceed $100,000,000 (such amount, the “2030 Unsecured Note Basket”) after all of the Company’s 2026 Notes that were issued in July 2021 are redeemed in full, and reduces the amount of “Permitted Additional Unsecured Debt” (as defined in the Credit Agreement) from $75,000,000 to $15,000,000 plus the unused portion of the 2030 Unsecured Note Basket.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

Ramaco Resources, Inc. incurred senior notes of $57,000,000 aggregate principal amount of the Notes with Lucid Capital Markets, LLC as representative of the several underwriters at 8.250% Senior Notes due 2030 maturing due 2030.

Instrument: senior notes
Principal: $57,000,000 aggregate principal amount of the Notes
Counterparty: Lucid Capital Markets, LLC as representative of the several underwriters
Rate: 8.250% Senior Notes due 2030
Maturity: due 2030
Event: incurrence

Exact text from the filing

named therein (the “Underwriters”), providing for, among other things, the sale by the Company and the purchase by the Underwriters, acting severally and not jointly, of $57,000,000 aggregate principal amount of the Notes. Pursuant to the Underwriting Agreement, the Company has also granted the Underwriters a 30-day option to purchase up to an additional

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Ramaco Resources, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-070253

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