Warrior Met Coal issues $350M 7.875% notes, redeems $343M 8% existing notes; enters $132M ABL facility

WARRIOR MET COAL, INC.

Issued $350M aggregate principal of 7.875% senior secured notes due December 2028.
Proceeds plus cash on hand used to redeem all $343.435M outstanding 8.00% senior secured notes due 2024.
Entered into $132M second amended and restated asset-based revolving credit facility maturing December 2026.
Interest on new notes payable semiannually on June 1 and December 1 starting June 1, 2022.
ABL facility changes interest rate benchmark from LIBOR to SOFR and increases letter-of-credit sublimit to $65M.

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