Hallador Energy Secures $140 Million Credit Facility Through 2026, Increasing Liquidity to $56.9 Million
- Hallador Energy Company entered into a new $140 million credit agreement with PNC Bank, providing increased liquidity and flexibility for future power sales and profits. The amendment includes converting $65 million of debt into a new term loan and establishing a revolver of $75 million. The maximum annual capital expenditure limit has also been increased to $100 million.
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TERRE HAUTE, Ind., Aug. 02, 2023 (GLOBE NEWSWIRE) -- Hallador Energy Company (Nasdaq: HNRG) entered into a new
The primary purpose of the amendment was to convert
"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.
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