---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-108429"
form_type: "8-K"
ticker: "HNRG"
cik: "0000788965"
company_name: "HALLADOR ENERGY CO"
filed_at: "2026-09-17T12:05:19+00:00"
generated_at: "2026-09-17T12:10:12.843640+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Hallador closes $600M term loan for Turtle Creek gas project; up to $675M total financing

## Summary
- Closed $600M term loan with Kennedy Lewis; $550M funded at closing, $50M delayed draw.
- Up to $75M revolver available, total package up to $675M.
- Proceeds to repay $45M term loan and $75M revolver, fund construction of 460-MW Turtle Creek gas project (cost <$800M).
- Pre-COD interest 3.5% cash + SOFR+4.5% PIK; post-COD SOFR+8.00%; 3-year term + 2-year extension.
- Company has $2.4B contracted forward sales as of 6/30/26; expects to fully fund Turtle Creek with little equity dilution.

## SEC filing metadata
- accession: 0001104659-26-108429
- form_type: 8-K
- ticker: HNRG
- cik: 0000788965
- company_name: HALLADOR ENERGY CO
- filed_at: 2026-09-17T12:05:19+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/788965/000110465926108429/0001104659-26-108429-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788965/000110465926108429/hnrg-20260915x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-108429
- JSON: https://secwatch.observer/filing/0001104659-26-108429.json
- Plain text: https://secwatch.observer/filing/0001104659-26-108429.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.