Matador Resources Co (MTDR): debt financing — Matador Resources raises quarterly dividend 33% to $0.20/sh, expands credit facility

Matador Resources Co

Quarterly cash dividend increased 33% to $0.20 per share, payable Dec 1, 2023, record Nov 10.
Credit facility borrowing base increased to $2.5B from $2.25B; max facility to $2.0B from $1.5B.
Elected commitment raised to $1.325B from $1.25B; only $530M drawn as of Sep 30.
JPMorgan Chase joins bank group; BOK Financial and Cathay Bank increase commitments.
CEO cites growing financial strength and positive operational outlook for dividend hike.

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

Matador Resources Co amended revolving credit of increase the borrowing base from $2.25 billion to $2.50 billion, (ii) increase the maximum facility amount from $1.50 bi.

Instrument: revolving credit
Principal: increase the borrowing base from $2.25 billion to $2.50 billion, (ii) increase the maximum facility amount from $1.50 bi
Event: amendment

Exact text from the filing

On October 19, 2023, MRC Energy Company, a wholly owned subsidiary of Matador Resources Company (the “Company”), entered into a Fourth Amendment to Fourth Amended and Restated Credit Agreement (the “Amendment”), which amends the Company’s secured revolving credit facility (the “Credit Agreement”) to, among other things: (i) increase the borrowing base from $2.25 billion to $2.50 billion, (ii) increase the maximum facility amount from $1.50 billion to $2.0 billion and (iii) increase the elected commitment from $1.25 billion to $1.325 billion.

View on SEC.gov

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

Matador Resources Co amended Fourth Amendment to Fourth Amended and Restated Credit Agreement valued at increase the borrowing base from $2.25 billion to $2.50 billion, (ii) increase the maximum facility (effective 2023-10-19).

Action: amendment
Agreement: credit facility
Value: increase the borrowing base from $2.25 billion to $2.50 billion, (ii) increase the maximum facility
Effective: 2023-10-19

Exact text from the filing

On October 19, 2023, MRC Energy Company, a wholly owned subsidiary of Matador Resources Company (the “Company”), entered into a Fourth Amendment to Fourth Amended and Restated Credit Agreement (the “Amendment”), which amends the Company’s secured revolving credit facility (the “Credit Agreement”) to, among other things: (i) increase the borrowing base from $2.25 billion to $2.50 billion, (ii) increase the maximum facility amount from $1.50 billion to $2.0 billion and (iii) increase the elected commitment from $1.25 billion to $1.325 billion

View on SEC.gov

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

Matador Resources Co filing history →

Source: SEC EDGAR

accession 0001520006-23-000188

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