PRESIDIO PRODUCTION Co (FTW): debt financing — Presidio closes $350M ABS refinancing; coupon cut 184 bps to 6.38%

PRESIDIO PRODUCTION Co

Issued $175M Class A-1 at 5.902% and $175M Class A-2 at 6.717%, due 2041.
Weighted-average coupon reduced from 8.22% to 6.38%, saving 184 bps.
Proceeds used: $263M to retire existing ABS, $37M to reduce RBL, $35M for hedges.
RBL facility remains undrawn with $65M borrowing base after paydown.
ARD structure lowers early-year amortization; ABS redeemable at 102% within year 1.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

PRESIDIO PRODUCTION Co incurred senior notes of $350 million in aggregate principal amount with UMB Bank, N.A., as Indenture Trustee at 5.902% Class A-1 Notes and 6.717% Class A-2 Notes maturing Class A-1 Notes due 2041; final scheduled payment date August 2033; Class A-2 Notes due 2041; final scheduled payment date February 2035.

Instrument: senior notes
Principal: $350 million in aggregate principal amount
Counterparty: UMB Bank, N.A., as Indenture Trustee
Rate: 5.902% Class A-1 Notes and 6.717% Class A-2 Notes
Maturity: Class A-1 Notes due 2041; final scheduled payment date August 2033; Class A-2 Notes due 2041; final scheduled payment date February 2035
Event: incurrence

Exact text from the filing

On June 9, 2026, Presidio Finance LLC (the "Issuer"), a limited-purpose, bankruptcy-remote, wholly-owned indirect subsidiary of Presidio Production Company (the "Company"), issued in a private offering (the "Offering") $350 million in aggregate principal amount of fixed-rate asset-backed securities, consisting of $175 million aggregate principal amount of 5.902% Class A-1 Notes due 2041 and $175 million in principal amount of 6.717% Class A-2 Notes due 2041 (collectively, the "ABS III Notes") pursuant to Section 4(a)(2) under the Securities Act of 1933, as amended (the "Securities Act").

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

PRESIDIO PRODUCTION Co entered into Second Amended and Restated Indenture with UMB Bank, N.A., as Indenture Trustee valued at $350 million (effective 2026-06-09).

Action: entry
Agreement: notes offering
Counterparty: UMB Bank, N.A., as Indenture Trustee
Value: $350 million
Effective: 2026-06-09

Exact text from the filing

On June 9, 2026, Presidio Finance LLC (the “Issuer”), a limited-purpose, bankruptcy-remote, wholly-owned indirect subsidiary of Presidio Production Company (the “Company”), issued in a private offering (the “Offering”) $350 million in aggregate principal amount of fixed-rate asset-backed securities, consisting of $175 million aggregate principal amount of 5.902% Class A-1 Notes due 2041 and $175 million in principal amount of 6.717% Class A-2 Notes due 2041 (collectively, the “ABS III Notes”)

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295 debt financings filed in the last 30 days. Browse all debt financings →

PRESIDIO PRODUCTION Co filing history →

Source: SEC EDGAR

accession 0001213900-26-067492

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