Hallador Energy Secures $120 Million Credit Facility Extending Debt Maturity to 2029
On March 5, Hallador Energy closed a $120 million senior secured credit agreement maturing March 5, 2029, comprising a $75 million revolving credit facility and a $45 million delayed-draw term loan. The deal features a $25 million letters-of-credit sub-facility, a $10 million swingline and a $25 million accordion, refinancing prior debt and boosting liquidity for working capital and growth.
1. Credit Facilities Overview
Hallador Energy closed a $120 million senior secured credit agreement on March 5, 2026, consisting of a $75 million revolving credit facility and a $45 million delayed-draw term loan, both maturing on March 5, 2029.
2. Refinancing and Liquidity Enhancement
Proceeds from the new facilities will refinance the company’s prior credit agreement, extend debt maturities by three years and bolster working capital and strategic growth funding, enhancing overall liquidity.
3. Facility Structure and Lender Syndicate
The revolver includes a $25 million letters-of-credit sub-facility and a $10 million swingline, while an accordion option allows up to $25 million of incremental commitments. Texas Capital Bank serves as administrative agent, with Old National Bank and First Financial Bank participating.