HighPeak Energy Announces Comprehensive Refinancing

HighPeak Energy announced a comprehensive refinancing built on a $450 million preferred equity investment from PT Danantara Investment Management and PT Energi Mega Persada, alongside a new $800 million reserve-based credit facility committed by Citibank and Fifth Third. The combined proceeds plus available cash are expected to repay the company's existing $1.17 billion term loan in full, materially cutting annual interest expense and strengthening liquidity. The trade-offs are meaningful: the Series A 6% perpetual convertible preferred converts at $9.50 per share, carries a 10% IRR redemption floor after year three, and DIM and EMP will each appoint one director to HighPeak's board.

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