Hallador extends credit facility to 2023, lowers interest by 50 bps

By Wendy Van Sickle

Columbus, Ohio, Oct. 2 – Hallador Energy Co. amended its $238 million credit facility to extend its maturity by 16 months to September 2023 and to reduce the interest margin by 50 basis points, according to a press release Wednesday.

The interest reduction puts the company’s current rate at Libor plus 300 bps, based on its pricing grid.

The credit facility comprises a $118 million term loan and a $120 million revolver. Currently, $172 million is outstanding.

PNC Bank as the administrative agent.

Denver-based Hallador focuses on coal development and delivery.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.