Battalion Oil entered into a Third Amended and Restated Senior Secured Credit Agreement to refinance and expand liquidity. The facility includes a $162.5 million term loan funded at closing and an uncommitted, discretionary delayed draw term loan of up to $175 million, maturing Dec. 31, 2029. Loans bear interest at 3-month Term SOFR plus a 0.15% credit spread adjustment and a 6.50% margin (or base rate plus 5.50%). The agreement includes customary covenants and prepayment provisions, with a make-whole in the first year and reduced premiums thereafter.
Agreement details:
- Agreement type: Third Amended and Restated Senior Secured Credit Agreement with term loan and discretionary delayed draw
- Counterparty: Fortress Credit, as administrative agent, and participating lenders
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: Through Dec 31 2029
- Reason: Refinance debt and enhance liquidity
Original SEC Filing:
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