HALLADOR ENERGY CO (HNRG): debt financing — Hallador Enters $140M Credit Facility Through 2026; Liquidity Increases to $56.9M

HALLADOR ENERGY CO

Converts $65M of funded debt into term loan maturing March 31, 2026; adds $75M revolver maturing July 31, 2026.
Interest rate: SOFR plus 4.00%-5.00% based on leverage ratio; max leverage 2.25x, debt service coverage 1.25x.
Maximum annual capex raised to $100M; permitted capital leases up to $25M; unsecured debt issuance up to $50M.
CEO Brent Bilsland says facility provides increased liquidity and flexibility for future power sales and profits.

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

HALLADOR ENERGY CO incurred revolving credit of $75 million with PNC Bank National Association at SOFR plus 4.00% to SOFR plus 5.00%, depending on the leverage ratio maturing July 31, 2026.

Instrument: revolving credit
Principal: $75 million
Counterparty: PNC Bank National Association
Rate: SOFR plus 4.00% to SOFR plus 5.00%, depending on the leverage ratio
Maturity: July 31, 2026
Event: incurrence

Exact text from the filing

On August 2, 2023, Hallador Energy Company (the "Company") executed an amendment to its credit agreement with PNC Bank National Association, as administrative agent for its lenders. The primary purpose of this amendment was to (i) convert $65 million of the outstanding funded debt into a new term loan with a maturity of March 31, 2026, and (ii) enter into a revolver of $75 million with a maturity of July 31, 2026.

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

HALLADOR ENERGY CO incurred term loan of $65 million with PNC Bank National Association at SOFR plus 4.00% to SOFR plus 5.00%, depending on the leverage ratio maturing March 31, 2026.

Instrument: term loan
Principal: $65 million
Counterparty: PNC Bank National Association
Rate: SOFR plus 4.00% to SOFR plus 5.00%, depending on the leverage ratio
Maturity: March 31, 2026
Event: incurrence

Exact text from the filing

convert $65 million of the outstanding funded debt into a new term loan with a maturity of March 31, 2026

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

HALLADOR ENERGY CO filing history →

Source: SEC EDGAR

accession 0001437749-23-021713

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