Loan & DebtJun 30, 2026, 04:17 PM
HighPeak Energy Amends Credit Agreements, Adjusts Leverage Ratios
AI Summary
HighPeak Energy, Inc. entered into two amendments to its credit agreements, modifying financial covenants. The Fourth Amendment to the Credit Agreement and the Third Amendment to the Term Loan Credit Agreement both adjust the Total Net Leverage Ratio to not exceed 2.25 to 1.00 for the fiscal quarter ending June 30, 2026. Additionally, the Third Amendment revised the Asset Coverage Ratio to not be less than 1.25 to 1.00 for the same period, with both ratios tightening further in subsequent quarters.
Key Highlights
- Fourth Amendment to Credit Agreement effective June 30, 2026.
- Third Amendment to Term Loan Credit Agreement effective June 25, 2026.
- Total Net Leverage Ratio for Q2 2026 set at max 2.25 to 1.00.
- Total Net Leverage Ratio from Q3 2026 onwards set at max 2.00 to 1.00.
- Asset Coverage Ratio for Q2 2026 set at min 1.25 to 1.00.
- Asset Coverage Ratio from Q3 2026 onwards set at min 1.50 to 1.00.
Price Impact
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