Warrior Met ups revolver to $125 million, extends to 2023, cuts pricing

By Marisa Wong

Morgantown, W.Va., Oct. 16 – Warrior Met Coal, Inc. said it entered into an amended and restated asset-based revolving credit agreement on Monday for increased commitments and an extended maturity.

The amendment, among other things, increases the total commitments under the credit facility by $25 million to $125 million and extends the maturity date of the credit facility to Oct. 15, 2023.

The amendment also reduces pricing and amends some covenants and other terms and provisions, according to a press release.

Borrowings now bear interest at Libor plus 150 basis points to 200 bps, depending on average quarterly availability, according to an 8-K filing with the Securities and Exchange Commission.

Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are the joint lead arrangers and joint bookrunners with Citibank, NA as administrative agent.

Warrior Met is a Brookwood, Ala.-based producer and exporter of premium hard coking coal.

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