Kimbell Royalty Partners upsizes credit facility to $1.5B, matures 2030

Kimbell Royalty Partners, LP

New $1.5B senior secured facility with initial borrowing base of $625M and elected commitments of $625M.
Maturity extended to December 16, 2030, with possible earlier date if preferred units remain outstanding.
Interest rates: SOFR + 2.50%-3.50% or base rate +1.50%-2.50% per annum depending on utilization.
Covenants: Debt to EBITDAX ≤ 3.50x, current ratio ≥ 1.0x; semi-annual borrowing base redeterminations.
Facility replaces prior $625M credit agreement; guaranteed by material subsidiaries and secured by oil/gas assets.

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