secwatch.observer — SEC 8-K summary
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Issuer:     Kimbell Royalty Partners, LP (KRP)
CIK:        0001657788
Form:       8-K
Filed at:   2025-12-16T23:59:59+00:00
Accession:  0001104659-25-121625
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1657788/000110465925121625/0001104659-25-121625-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1657788/000110465925121625/tm2533519d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-121625

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