Excelerate Energy enters $600M amended credit facility, adds $250M term loan for FSRU acquisition

Excelerate Energy, Inc.

New $250M term loan facility and extension of $350M revolver to March 2027.
Maximum leverage covenant increased by 0.50x to 3.50x (4.25x if unsecured debt ≥$250M).
Term loan proceeds to purchase FSRU Sequoia in April 2023; commitments expire May 1 if not closed.
Collateral maintenance requirement set at greater of $750M or 130% of total credit exposure.
Borrowings based on SOFR plus margin tied to leverage ratio; Wells Fargo administrative agent.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Excelerate Energy, Inc. amended Amended and Restated Senior Secured Credit Agreement with Wells Fargo Bank, N.A., as Administrative Agent, the other lenders party thereto and the issuing banks party thereto valued at $250 million term loan facility, $350 million revolving credit facility (effective 2023-03-17).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, N.A., as Administrative Agent, the other lenders party thereto and the issuing banks party thereto
Value: $250 million term loan facility, $350 million revolving credit facility
Effective: 2023-03-17

Exact text from the filing

On March 17, 2023, Excelerate Energy Limited Partnership (“EELP”), the entity through which Excelerate Energy, Inc. (the “Company”) conducts its business, and the Company entered into an Amended and Restated Senior Secured Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank, N.A., as Administrative Agent (“Administrative Agent”), the other lenders party thereto and the issuing banks party thereto.

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Excelerate Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-074904

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