Loan & DebtMay 21, 2026, 04:58 PM
EagleRock Land Operating Secures $200M Revolving Credit Facility
AI Summary
EagleRock Land Operating, LLC (OpCo), a subsidiary of EagleRock Land, LLC, has entered into a new $200.0 million revolving credit facility. This new facility, administered by JPMorgan Chase Bank, N.A., will become effective upon the full repayment and termination of the existing Predecessor Credit Facility. The company intends to use a portion of the net proceeds from its initial public offering to repay the Predecessor Credit Facility, which had approximately $263.3 million outstanding as of May 4, 2026.
Key Highlights
- EagleRock Land Operating (OpCo) became Parent and Guarantor for the Predecessor Credit Facility.
- Predecessor Credit Facility had $263.3 million outstanding and a $270.0 million payoff balance as of May 4, 2026.
- Company plans to repay and terminate the Predecessor Credit Facility using proceeds from its initial public offering.
- OpCo entered into a new $200.0 million revolving credit facility, maturing five years after its effective date.
- The new Credit Facility includes an accordion feature allowing for up to $100.0 million in additional commitments.
- Interest rates for the new facility are based on SOFR plus an applicable margin, tiered by leverage ratio (e.g., 3.00% if leverage >= 3.00x).
Price Impact
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