secwatch.observer — SEC 8-K summary
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Issuer:     HALLADOR ENERGY CO (HNRG)
CIK:        0000788965
Form:       8-K
Filed at:   2026-09-17T12:05:19+00:00
Accession:  0001104659-26-108429
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/788965/000110465926108429/0001104659-26-108429-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/788965/000110465926108429/hnrg-20260915x8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-108429

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