Financing ·
Hallador Energy closes $600M senior secured term loan facility, with total package up to $675M
HNRGHallador Energy Co
Hallador Energy Company closed a $600 million senior secured term loan facility on September 15, 2026, with Kennedy Lewis Investment Management LLC acting as lender. The facility includes $550 million funded at closing and a $50 million delayed draw commitment available for 12 months. Additionally, the company has the ability to establish a super-priority revolving credit facility of up to $75 million, creating a total financing package of up to $675 million. Proceeds will primarily fund the construction of the proposed 460-megawatt Turtle Creek Gas project, with approximately $120 million allocated to repay existing indebtedness under Texas Capital Bank facilities. The term loan matures in three years with an optional two-year extension and carries interest rates tied to SOFR plus a spread, subject to financial covenants including debt service coverage and leverage ratios. Hallador Energy Company operates as a vertically integrated independent power producer focused on electricity generation and coal mining.