Hallador secures $600M term loan to fund Turtle Creek 460MW gas project
Hallador Energy Co secured a $600M senior secured term loan package: $550M funded plus a $50M delayed draw, with an optional $75M revolver. The deal has a three-year tenor (with a two-year extension), pricing at SOFR+8% post-COD, and covenants to support construction of the Turtle Creek 460 MW gas project.
Hallador Energy Co (NASDAQ:HNRG) said it secured a $600M senior secured term loan package for its Turtle Creek 460 MW gas project. The financing includes $550M funded, a $50M delayed draw and an optional $75M revolver. The facility has a three-year tenor with a two-year extension option, carries SOFR+8% after commercial operation date, and includes covenants to fund turbines, transport and other project needs.