Loan & DebtMay 6, 2026, 04:24 PM
Permian Resources secures new $3.0B unsecured credit facility
AI Summary
Permian Resources Operating, LLC, a consolidated subsidiary of Permian Resources Corporation, entered into a new $3.0 billion senior unsecured credit facility with JPMorgan Chase Bank, N.A. and other lenders. This new agreement, maturing on April 30, 2031, replaces the prior credit agreement which had a borrowing base of $4.0 billion and $2.5 billion in elected commitments and was set to mature in February 2028. The new facility provides flexibility with an option to increase commitments to $4.0 billion and includes customary financial covenants.
Key Highlights
- Permian Resources Operating secured a new $3.0 billion senior unsecured credit facility.
- The new credit agreement has a scheduled maturity date of April 30, 2031.
- The facility includes an option to increase aggregate commitments to $4.0 billion.
- Interest rates are based on SOFR (150 bps margin) or Alternate Base Rate (50 bps margin).
- A commitment fee of 20 basis points applies to undrawn commitments.
- The prior credit agreement, with a $4.0 billion borrowing base, was terminated without penalty.
- The prior credit agreement had $2.5 billion in elected commitments and was set to mature in February 2028.