MACH NATURAL RESOURCES LP (MNR): debt financing — Mach Natural Resources closes new $750M reserve-based revolver, repays prior debt

MACH NATURAL RESOURCES LP

New $750M borrowing base revolving credit facility with ten banks; Truist Bank as admin agent; matures Feb 27, 2029.
Interest rate: Term SOFR +3.00%-4.00% or base rate +2.00%-3.00%, based on borrowing base utilization.
Proceeds from new facility, recent equity offering (Feb 7, 2025), and cash on hand used to repay and terminate prior term loan and revolver.
Approximately $23M outstanding under existing MidFirst Bank revolver was repaid.

item 1.01 item 1.02 item 2.03 item 7.01 item 9.01

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 $750,000,000 with Truist Bank at term SOFR (subject to a 0.10% per annum adjustment) plus a margin ranging from 3 maturing February 27, 2029.

Instrument: revolving credit
Principal: $750,000,000
Counterparty: Truist Bank
Rate: term SOFR (subject to a 0.10% per annum adjustment) plus a margin ranging from 3
Maturity: February 27, 2029
Event: incurrence

Exact text from the filing

On February 27, 2025, Mach Natural Resources LP (the “Company”) entered into a senior secured reserve-based revolving credit agreement (the “New Revolving Credit Agreement”), among the Company, the lenders and issuing banks party thereto from time to time and Truist Bank, as the administrative agent and collateral agent. The New Revolving Credit Agreement has (i) an initial borrowing base and elected commitment amount of $750,000,000

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Source: SEC EDGAR

accession 0001213900-25-018026

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