Core Insights - Matador Resources Company successfully redetermined its borrowing base under its reserves-based loan credit facility (RBL) at $3.25 billion, with unanimous support from its nineteen commercial lenders [1][2] - The company also announced a $250 million increase in commitments under San Mateo Midstream's revolving credit facility, raising the total from $850 million to $1.10 billion [1][4] Financial Performance - Matador has paid down $311 million in borrowings under the RBL during the first nine months of 2025, resulting in a balance of $285 million as of September 30, 2025 [3] - The company's debt-to-EBITDA leverage ratio has been reduced to less than 1.0x, indicating improved financial health [3] - As of September 30, 2025, Matador has approximately $2 billion in available liquidity [3] Operational Highlights - San Mateo Midstream, a joint venture owned 51% by Matador, operates a system that includes 650 miles of pipelines and has significant processing and disposal capacities, providing essential services in the Delaware Basin [4] - The increase in lender commitments under San Mateo's revolving credit facility enhances operational and financial flexibility for the midstream operations [5] Company Overview - Matador Resources Company, founded in 1983, has grown from an initial investment of $270,000 to over $10 billion in assets, focusing on oil and natural gas exploration and production in the United States [6] - The company primarily operates in the Wolfcamp and Bone Spring plays, as well as in the Haynesville shale and Cotton Valley plays [6]

Core Insights - Ferrari has signed a Euro 350 million unsecured committed revolving credit facility for general corporate and working capital purposes [1][2] - The new facility has a five-year term with two one-year extension options, replacing the previous Euro 350 million facility due December 2026 [2] - The new credit facility offers a lower cost of capital compared to the prior facility, indicating strong support from a group of twelve international banks [3] Company Overview - Ferrari is a leading luxury brand known for its racing, sports cars, and lifestyle products, symbolizing exclusivity and innovation [4] - The brand is closely associated with its Formula 1 team, Scuderia Ferrari, which has won 16 Constructors' and 15 Drivers' world titles since 1950 [4] - Ferrari designs and produces iconic luxury sports cars sold in over 60 markets worldwide, along with personal luxury goods and experiences [4]

Core Viewpoint - Knight Therapeutics Inc. has successfully closed a syndication of its US$100 million secured revolving credit facility, enhancing its financial flexibility for growth and acquisitions [1][3][5]. Group 1: Credit Facility Details - The credit facility was increased from an initial US$50 million to US$100 million, with an additional accordion feature allowing for another US$100 million, subject to lender acceptance [2][3]. - The facility has an initial maturity date of June 17, 2028, with the option for annual extensions of one year [4]. - The credit can be drawn in either USD or CAD at rates based on SOFR or CORRA plus a margin of 1.25% to 2.75%, depending on the company's debt leverage [4]. Group 2: Strategic Implications - The credit facility is intended to support the company's growth strategy and may also be utilized for working capital and other corporate purposes [3][5]. - The partnership with a consortium of four banks, led by National Bank of Canada, strengthens the company's financial relationships and doubles its borrowing capacity [5]. Group 3: Company Overview - Knight Therapeutics Inc. is a specialty pharmaceutical company based in Montreal, Canada, focused on acquiring and commercializing pharmaceutical products for Canada and Latin America [7].

Core Points - OppFi Inc. has closed a new $150 million revolving credit facility, replacing a prior facility, which is expected to significantly improve financing costs with a reduction in the interest rate from SOFR + 7.5% to SOFR + 6.0% [1][2] - The new credit facility is aimed at supporting the company's growth in receivables and enhancing access to credit for underserved Americans [2] Company Overview - OppFi is a tech-enabled digital finance platform that partners with banks to provide financial products and services to everyday Americans, focusing on financial inclusion and customer experience [3] - The company has a high customer satisfaction rating, maintaining a 4.4/5.0 star rating on Trustpilot based on over 5,200 reviews [3] - OppFi holds a 35% equity interest in Bitty Holdings, LLC, which offers revenue-based financing and working capital solutions to small businesses [3]

Core Points - Enact Holdings, Inc. has announced a new $435 million five-year senior unsecured revolving credit facility, effective September 30, 2025, replacing the previous $200 million facility [1][2] - The new credit facility enhances borrowing capacity and extends the maturity profile, providing greater financial flexibility and liquidity for operations [2] - Borrowings will accrue interest at a floating rate tied to a short-term borrowing index plus a margin currently set at 125 basis points [2] - The facility was arranged with a syndicate of eight banks, with JPMorgan Chase Bank, N.A. as the Administrative Agent and Joint Lead Arranger [3] Company Overview - Enact Holdings, Inc. operates primarily through its subsidiary, Enact Mortgage Insurance Corporation, and is a leading private mortgage insurance provider in the U.S. [5] - The company aims to help more individuals achieve homeownership by partnering with lenders to provide service, underwriting expertise, and risk management [5] - Enact is headquartered in Raleigh, North Carolina, and has been in operation since 1981 [5]

Core Viewpoint - Verano Holdings Corp. has successfully closed a $75 million revolving credit facility, drawing $50 million to retire existing higher interest rate debt, thereby strengthening its financial position and enabling future strategic initiatives [1][3][4]. Group 1: Credit Facility Details - The revolving credit facility is secured by selected real estate and offers benefits such as lower cost debt, payoff and redraw flexibility, and the option to release certain real estate as collateral [2][7]. - The facility has a floating annual interest rate equal to SOFR plus 6%, with a 4% SOFR floor, and matures on September 29, 2028, allowing for repayment in increments of $2.5 million [7]. Group 2: Company Strategy and Market Position - The closing of the credit facility is part of the company's strategy to fortify its balance sheet and leverage owned real estate to capitalize on future market opportunities [3]. - Verano is recognized as one of the leading companies in the U.S. cannabis industry, operating in 13 states with 15 production facilities and over 1.1 million square feet of cultivation capacity [5]. Group 3: Industry Context - Chicago Atlantic, the agent for the credit agreement, highlighted that this revolving credit facility is likely the largest of its kind among U.S. cannabis operators, reflecting Verano's strength in the market [4][6].

Core Insights - Gray Media, Inc. has increased its revolving credit facility commitments by $50 million, bringing the total to $750 million, and extended the maturity date to December 1, 2028 [1][2] - The company has $700 million of undrawn availability under the revolving credit facility after repaying $402.5 million of its term loan F with proceeds from a $900 million offering of senior secured second lien notes [2] - Gray Media is the largest owner of local television stations in the U.S., reaching approximately 37% of U.S. television households, with a significant portfolio of top-rated stations [3] Financial Details - The company’s revolving credit facility now totals $750 million, with a maturity extension to December 1, 2028 [1] - Following the repayment of $402.5 million of Term Loan F, the outstanding balance is now $90 million [2] - The company has raised $900 million through the issuance of 9.625% senior secured second lien notes due 2032 [2] Company Overview - Gray Media, Inc. operates in 113 television markets and owns the largest Telemundo Affiliate group with 44 markets [3] - The company also includes Gray Digital Media, which provides advanced digital marketing strategies [3] - Additional media properties include video production companies and studio production facilities [3]

Core Viewpoint - Genco Shipping & Trading Limited has successfully closed a $600 million revolving credit facility, enhancing its financial flexibility to pursue growth opportunities in the drybulk shipping sector [1][3]. Financial Flexibility - The new credit facility increases Genco's borrowing capacity by 50%, from $400 million to $600 million [6]. - The repayment profile is set for 20 years with no commitment reductions until March 31, 2027, allowing Genco to maintain full borrowing capacity for an extended period [6]. - The margin for the credit facility has been reduced to a range of 1.75% to 2.15%, down from the previous range of 1.85% to 2.15% [4][6]. - The commitment fee on undrawn amounts has decreased from 40% of margin to 35% of margin [4][6]. Strategic Positioning - Genco has $100 million of debt outstanding and $500 million of undrawn revolver availability, positioning the company to renew and grow its asset base [4][6]. - The credit facility structure aligns with Genco's capital allocation strategy, which focuses on dividends, deleveraging, and growth [3][6]. - The accordion feature of the facility allows for an additional borrowing capacity potential of $300 million [6]. Market Outlook - The company maintains a positive outlook on the drybulk market, citing solid supply-side fundamentals [3]. - Genco's fleet consists of 42 vessels with an average age of 12.6 years and an aggregate capacity of approximately 4,446,000 deadweight tons (dwt) [7].

Core Points - Koppers Holdings Inc. has successfully extended the maturity date of its $800 million revolving credit facility to June 17, 2030, or 91 days prior to the maturity date of its secured term loan facility [1][2] - The transaction modifies the total net leverage ratio financial covenant, increasing the test from 4.50:1.00 to 4.75:1.00 through the life of the deal [2] - The interest rate margins on the Revolving Facility have been adjusted by removing a 10 basis points credit spread adjustment for certain SOFR loans [2] - All other material terms and conditions of the Revolving Facility remain unchanged [3] - The CFO expressed satisfaction with the extension, highlighting its role in strengthening the company's capital position and enhancing financial flexibility [3] Company Overview - Koppers is an integrated global provider of treated wood products, wood preservation technologies, and carbon compounds, employing 2,100 people [4] - The company focuses on creating and preserving essential infrastructure elements, including railroad crossties and utility poles, while innovating to meet future needs [4]

Core Viewpoint - Knight Therapeutics Inc. has secured a revolving credit facility with National Bank of Canada to support its growth strategy and acquisition plans, particularly for the Paladin acquisition [1][2][4]. Group 1: Credit Facility Details - The initial borrowing limit of the credit facility is up to US$50 million, with plans to increase it to at least US$100 million plus an accordion of US$50 million within the next six months [2][5]. - The credit facility can be drawn in either USD or CAD at the SOFR or CORRA rate plus a margin of 1.25% to 2.75%, depending on the company's debt leverage [3]. - The facility has an initial term of three years, extendable annually, and includes customary financial and non-financial covenants [2][3]. Group 2: Company Strategy and Leadership Statements - The credit facility is intended to enhance the company's operational strength and balance sheet, enabling it to pursue acquisition opportunities and support business growth in Latin America and Canada [4][5]. - The CFO of Knight Therapeutics expressed that the facility will optimize the capital structure and provide necessary funding for growth [5].