ALLIANCE RESOURCE PARTNERS LP (ARLP): debt financing — Alliance Coal enters new $500M credit facility ($425M revolver + $75M term loan) due 2027

ALLIANCE RESOURCE PARTNERS LP

New $500M facility replaces $459.5M revolver due 2024; matures March 2027.
May accelerate to Jan 2025 if 7.5% senior notes still outstanding and liquidity below $200M.
Interest based on SOFR plus margin of 3.00%–3.50% depending on leverage ratio.
Guaranteed by parent ARLP and subsidiaries; secured by seven active coal mines and assets.
Financial covenants: debt/EBITDA ≤1.5x (borrower), ≤2.5x consolidated; interest coverage ≥3.0x.

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

ALLIANCE RESOURCE PARTNERS LP incurred credit facility of $425 million revolving credit facility with PNC Bank, National Association as administrative agent at adjusted one-month, three-month or six-month term rate based on the secured over maturing March 9, 2027.

Instrument: credit facility
Principal: $425 million revolving credit facility
Counterparty: PNC Bank, National Association as administrative agent
Rate: adjusted one-month, three-month or six-month term rate based on the secured over
Maturity: March 9, 2027
Event: incurrence

Exact text from the filing

Credit Agreement On January 13, 2023, Alliance Coal, LLC ("Alliance Coal"), as borrower, entered into a Credit Agreement (the "Credit Agreement") with various financial institutions, including PNC Bank, National Association as administrative agent (the "Administrative Agent").

View on SEC.gov

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

ALLIANCE RESOURCE PARTNERS LP incurred term loan of $75 million with PNC Bank, National Association as administrative agent at adjusted one-month, three-month or six-month term rate based on the secured over maturing March 9, 2027.

Instrument: term loan
Principal: $75 million
Counterparty: PNC Bank, National Association as administrative agent
Rate: adjusted one-month, three-month or six-month term rate based on the secured over
Maturity: March 9, 2027
Event: incurrence

Exact text from the filing

Credit Agreement On January 13, 2023, Alliance Coal, LLC ("Alliance Coal"), as borrower, entered into a Credit Agreement (the "Credit Agreement") with various financial institutions, including PNC Bank, National Association as administrative agent (the "Administrative Agent").

View on SEC.gov

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

ALLIANCE RESOURCE PARTNERS LP entered into Credit Agreement with various financial institutions, including PNC Bank, National Association valued at $425 million revolving credit facility and a $75 million term loan (effective 2023-01-13).

Action: entry
Agreement: credit facility
Counterparty: various financial institutions, including PNC Bank, National Association
Value: $425 million revolving credit facility and a $75 million term loan
Effective: 2023-01-13

Exact text from the filing

On January 13, 2023, Alliance Coal, LLC ("Alliance Coal"), as borrower, entered into a Credit Agreement (the "Credit Agreement") with various financial institutions, including PNC Bank, National Association as administrative agent (the "Administrative Agent").

View on SEC.gov

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

ALLIANCE RESOURCE PARTNERS LP filing history →

Source: SEC EDGAR

accession 0001558370-23-000394

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