MP Materials Corp. / DE (MP): debt financing — MP Materials signs $275M revolver, $200M LC sublimit, 5-year term

MP Materials Corp. / DE

$275M revolving credit facility with 5-year maturity from JPMorgan-led syndicate.
Pricing: SOFR + 1.75%-2.50% margin; commitment fee 0.20%-0.35% on unused portion.
Facility includes $200M letter of credit sublimit; secured by substantially all assets.
Financial covenant: total leverage ≤ 4.00x and interest coverage ≥ 3.00x after trigger event.
Proceeds for general corporate purposes, including working capital and capex.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

MP Materials Corp. / DE incurred revolving credit of $275.0 million with JPMorgan Chase Bank, N.A., as administrative agent at SOFR plus, as applicable, a margin ranging from 1.75% to 2.50% per annum maturing mature on the fifth anniversary of the Effective Date.

Instrument: revolving credit
Principal: $275.0 million
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: SOFR plus, as applicable, a margin ranging from 1.75% to 2.50% per annum
Maturity: mature on the fifth anniversary of the Effective Date
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a 5-year, $275.0 million revolving credit facility for general corporate purposes (the “Revolving Credit Facility”) with a $200.0 million letter of credit facility sublimit.

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MP Materials Corp. / DE filing history →

Source: SEC EDGAR

accession 0001193125-25-187776

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