HighPeak Energy made amendments to its term loan credit agreement and senior credit facility agreement, both effective Aug. 1, 2025.
Material amendments to the term loan credit agreement and senior credit facility agreement:
- Extended the maturity dates for the term loan credit agreement and the senior credit facility agreement by two years to Sept. 30, 2028
- Upsized the borrowings under the company’s term loan credit agreement to $1.2 billion, providing additional liquidity to the company
- Amended certain covenants including deferring mandatory amortization payments of $30 million per quarter until Sept. 30, 2026
- The term loan credit agreement call protection provision remains unchanged, expiring in September 2025, providing the company with significant flexibility to pay down the term loan at par, in whole or in part, at any time
- The company’s total cost associated with amending and extending the term loan credit agreement and the senior credit facility agreement was appreciably less than other potential financing options.
TCBI Securities, doing business as Texas Capital Securities, served as financial advisor to HighPeak and arranger of the amended and extended term loan credit agreement.
