Warrior Met Coal plans to amend and extend asset-based revolver

Chicago, Nov. 18 – Warrior Met Coal, Inc. announced that it plans to amend and restate its asset-based revolving credit agreement that lists Citibank, NA as administrative agent, according to an 8-K filed with the Securities and Exchange Commission.

The amendment will extend the maturity date five years.

Warrior Met Coal will be able to borrow up to $132 million through Oct. 14, 2023 and after that date up to $116 million through November 2026, subject to meeting borrowing base and other conditions.

The amendment will also move the basis of interest to SOFR from Libor.

Certain definitions in relation to the calculation of the borrowing base will be amended.

Commitments that can be used for letters of credit will be increased to $65 million.

The company has launched an offer of new notes that are expected to price Friday.

The new notes are conditioned on the consummation of the amended and restated credit agreement.

Warrior Met Coal is a Brookwood, Ala.-based coal producer.

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