OPAL Fuels Inc. (OPAL): debt financing — OPAL Fuels JV Paragon RNG amends credit agreement; extends project completion to Dec 1, 2024

OPAL Fuels Inc.

DSR facility reclassified as $10M revolving loan facility with same terms.
Construction completion date for Emerald and Sapphire projects extended from June 30 to Dec 1, 2024.
DDTL facility reduced from $85M to ~$81M; no longer available for Emerald project costs.
Mandatory quarterly principal prepayments of $2M in 2024, plus additional targets up to $15M.
Amendment fee of $150,000 paid at closing.

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

OPAL Fuels Inc. amended revolving credit of up to a maximum aggregate principal amount of $10.0 million with Bank of Montreal at substantially the same terms as the DSR Facility.

Instrument: revolving credit
Principal: up to a maximum aggregate principal amount of $10.0 million
Counterparty: Bank of Montreal
Rate: substantially the same terms as the DSR Facility
Event: amendment

Exact text from the filing

the Credit Agreement Amendment reclassifies the debt service reserve facility (the “DSR Facility”) under the Credit Agreement as a revolving loan facility of up to a maximum aggregate principal amount of $10.0 million (the “Revolving Loan Facility”) on substantially the same terms as the DSR Facility

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

OPAL Fuels Inc. amended credit facility of $2.0 million each on the last business day of each fiscal quarter in 2024, and to the extent funds are available on such.

Instrument: credit facility
Principal: $2.0 million each on the last business day of each fiscal quarter in 2024, and to the extent funds are available on such
Event: amendment

Exact text from the filing

The Credit Agreement Amendment and the Depositary Agreement Amendment together require prepayments of principal in the amount of $2.0 million each on the last business day of each fiscal quarter in 2024, and to the extent funds are available on such dates, additional prepayments in the amounts of $2.5 million, $6.0 million, $10.0 million and $15.0 million (each a “Target Aggregate Special Principal Prepayment Amount”)

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

OPAL Fuels Inc. amended term loan of from a maximum aggregate principal amount of $85.0 million to approximately $81.0 million.

Instrument: term loan
Principal: from a maximum aggregate principal amount of $85.0 million to approximately $81.0 million
Event: amendment

Exact text from the filing

Availability under the Credit Agreement’s delayed term loan facility (the “DDTL Facility”) has been reduced from a maximum aggregate principal amount of $85.0 million to approximately $81.0 million

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

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Source: SEC EDGAR

accession 0001842279-24-000003

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