Sable Offshore launches up to $1.0B senior secured term loan to replace Exxon loan

Sable Offshore Corp.

Proposed $1.0 billion senior secured term loan to replace existing Senior Secured Term Loan with Exxon Mobil.
JPMorgan Chase Bank, N.A. expected to serve as administrative agent for the new facility.
Proceeds will repay existing Exxon loan, pay transaction fees, and satisfy performance bonding obligations.
Closing subject to market conditions, negotiation of definitive documents, and customary conditions.
Company plans incremental unsecured capital markets solutions alongside the term loan.

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