Battalion Oil enters $162M amended senior secured credit facility with Fortress Credit Corp.

BATTALION OIL CORP

Initial term loan of $162M funded on Dec 26, 2024, replacing existing credit agreement with Macquarie Bank.
Up to $63M incremental term loan available from Jan 3 to Jan 11, 2025, subject to conditions.
Maturity Dec 26, 2028; interest rate 3-month SOFR plus 7.75% margin.
Financial covenants include Asset Coverage Ratio ≥1.70x, Total Net Leverage Ratio ≤2.75x initially.
Prepayment premiums: make-whole in first 12 months, 2% months 13-30, 0% thereafter.

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