Hallador Energy Secures $140 Million Credit Facility Through 2026, Increasing Liquidity to $56.9 Million
02 Agosto 2023 - 8:30PM
Hallador Energy Company (Nasdaq: HNRG) entered into a new
$140 million credit agreement today, with PNC Bank as the
administrative agent, extending the term of the agreement through
2026.
The primary purpose of the amendment was to convert $65
million of the outstanding funded debt into a new term loan with a
maturity of March 31, 2026, and enter into a revolver of $75
million with a maturity of July 31, 2026. The amendment
increased the maximum annual capital expenditure limit to $100
million.
"We appreciate PNC and the other banks in the
syndication for putting their trust in Hallador as we enter
this new phase of our Company on the heels of the Merom Power Plant
acquisition in October 2022. We are excited about the
increased liquidity this amendment provides the Company and the
flexibility it allows us to make future power sales and lock in
future profits," as stated by Brent Bilsland, President and Chief
Executive Officer.
The Company will share more details of the amendment in its
Report on Form 10-Q to be filed on August 7, 2023, and during
its investor earnings call on August 8, 2023.
To learn more about Hallador, visit our website at
www.halladorenergy.com.
1
Contact: Investor Relations
Phone: (303) 839-5504
Hallador Energy (NASDAQ:HNRG)
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