Ramaco Resources Inc (METC) has shared an announcement.
Ramaco Resources, Inc. has amended its credit agreement, increasing its credit facility to $275 million, with a maturity date of May 3, 2029. This adjustment includes a revolving commitment of $200 million and an additional $75 million available through an accordion feature, all contingent on lender consent. Interest rates for borrowing are set at base rate plus 2% or the secured overnight financing rate plus 2.5%. The agreement enforces covenants that limit further indebtedness and other financial activities, alongside maintaining a minimum fixed charge coverage ratio. Furthermore, the company declared dividends for Class A and Class B common stock, payable in June 2024 to shareholders of record by June 1, 2024.
Learn more about METC stock on TipRanks’ Stock Analysis page.
