MACH NATURAL RESOURCES LP (MNR): debt financing — Mach Natural Resources amends credit facilities; new $1.0B revolver with initial borrowing base $600M

MACH NATURAL RESOURCES LP

New revolving credit facility replaces prior three facilities; aggregate maximum capacity $1.0B.
Initial borrowing base set at $600M with commitments of $200M; $130M outstanding as of Nov 10, 2023.
Maturity date November 10, 2027; interest rate is Term SOFR plus 3.00% to 4.00% margin.
Facility includes customary financial covenants and events of default; secured by substantially all assets.
Proceeds used to refinance existing indebtedness and for general corporate purposes including acquisitions.

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

MACH NATURAL RESOURCES LP incurred revolving credit of $1.0 billion, with an initial borrowing base of $600.0 million, subject to commitments of $200.0 million with MidFirst Bank at Term SOFR plus an applicable margin maturing November 10, 2027.

Instrument: revolving credit
Principal: $1.0 billion, with an initial borrowing base of $600.0 million, subject to commitments of $200.0 million
Counterparty: MidFirst Bank
Rate: Term SOFR plus an applicable margin
Maturity: November 10, 2027
Event: incurrence

Exact text from the filing

The New Credit Facility provides for a revolving credit facility in an aggregate maximum amount of $1.0 billion, with an initial borrowing base of $600.0 million, subject to commitments of $200.0 million.

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

MACH NATURAL RESOURCES LP amended New Credit Facility with syndicate of banks, including MidFirst Bank (effective 2023-11-10).

Action: amendment
Agreement: credit facility
Counterparty: syndicate of banks, including MidFirst Bank
Effective: 2023-11-10

Exact text from the filing

On November 10, 2023, Mach Natural Resources Holdco LLC, a wholly-owned subsidiary of the Company and a direct parent to each of the Mach Companies, amended and restated the Revolving Credit Facilities with a syndicate of banks, including MidFirst Bank who serves as administrative agent and collateral agent for the lenders from time to time party thereto (the "New Credit Facility").

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MACH NATURAL RESOURCES LP filing history →

Source: SEC EDGAR

accession 0001213900-23-089255

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