secwatch.observer — SEC 8-K summary
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Issuer:     EagleRock Land, LLC (EROK)
CIK:        0002104882
Form:       8-K
Filed at:   2026-05-21T20:53:44+00:00
Accession:  0001193125-26-234739
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EagleRock Land closes IPO, enters $200M revolver to repay $270M prior debt
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- Predecessor facility had $263.3M outstanding at May 4, 2026; ~$270M payoff; IPO proceeds will repay and terminate.
- New $200M revolving credit facility with JPMorgan, secured, with $100M accordion and $10M LC sublimit; 5-year maturity.
- New facility interest margins 2.25%-3.00% based on leverage vs prior 8.0%-8.5%; lower cost expected.
- Covenants: max net total leverage 3.50x (step-up to 4.00x for acquisitions), min interest coverage 2.75x, liquidity ≥$50M for restricted payments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2104882/000119312526234739/0001193125-26-234739-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2104882/000119312526234739/d22877d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-234739

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