BATTALION OIL CORP (BATL) Form 8-K — Jul 1, 2026
Battalion Oil Corp entered into a Third Amended and Restated Senior Secured Credit Agreement with Fortress Credit Corp., securing a term loan facility of $162.5 million and a discretionary delayed draw term loan facility of up to $175.0 million. The new agreement amends and restates the existing credit facility dated December 26, 2024, with the term loan amount deemed funded on the June 30, 2026 closing date. The maturity date for the facility is extended to December 31, 2029, and the company achieved a significant reduction in borrowing costs. The applicable margin is fixed at SOFR plus 6.50%, replacing the previous leverage-based pricing grid that ranged from 7.75% to 8.50%.
Key figures
- Debt Amount
- 162500000
- Interest Rate
- SOFR + 6.50%
- Maturity Date
- December 31, 2029
- Delayed draw facility
- 175000000
- Leverage covenant max
- 2.75x
- Previous margin range
- 7.75% - 8.50%
Price after filing
Close on the filing date to close N calendar days later (from $1.29). Historical, not a forecast.
AI analysis
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