This entry is sourced from Hallador's Exhibit 99.1 press release filed as part of an 8-K on September 17, 2026. The transaction described is a completed financing, not a pending announcement; the term loan facility closed on September 15, 2026, two days before the filing date.
PEI Global Partners acted as the exclusive financial advisor to Hallador in connection with this transaction. Kennedy Lewis Investment Management LLC is named as the lender providing the Term Loan Facility, functioning as the financing counterparty rather than an advisor. No legal advisors are named in this release for either Hallador or Kennedy Lewis.
No legal advisors were disclosed in this press release.
Proceeds from the Term Loan Facility, together with a potential additional $50 million delayed draw term loan commitment available for up to 12 months, are expected to fund Hallador's turbine asset purchase agreement obligations, transportation and refurbishment costs, and construction of the Company's proposed 460-megawatt natural gas-fired Turtle Creek Gas project, which has an expected total project cost of less than $800 million. Approximately $120 million of proceeds will be used to repay Hallador's existing $45 million term loan and $75 million revolving credit facility, with the balance for general corporate purposes. As of June 30, 2026, Hallador had approximately $2.4 billion of contracted forward sales under multi-year agreements with utilities and other counterparties.
The release does not disclose the interest rate or pricing terms of the Term Loan Facility, the specific fee paid to PEI Global Partners, or the identity of legal counsel to either party. No final investment decision (FID) on the Turtle Creek project itself has been made as of this release; the company states a long-term power purchase agreement is not expected to be a condition to FID, but the generator interconnection agreement had not yet been executed as of the filing date.