W&T Offshore Announces Liquidity-Enhancing Modifications to the Non-Recourse Term Loan with Munich Re [Yahoo! Finance]
W&T Offshore, Inc. (WTI)
Last w&t offshore, inc. earnings: 3/4 04:45 pm
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Source: Yahoo! Finance
non-recourse term loan (the “Term Loan”) between its wholly-owned special purpose vehicles (the “SPVs”) and Munich Re Reserve Risk Financing, Inc. ("MRRF"), which is expected to provide additional liquidity to the Company over 2024 without increasing the Company's net leverage. The Term Loan was initially arranged on May 19, 2021 (“Closing Date”) and had a principal balance of $215 million which has been amortized down to around $114 million as of December 31, 2023. There have been a few alterations to the Credit Agreement signed by the SPVs and MRRF on May 19, 2021 (the “Original Credit Agreement”). Key highlights of the transaction are as follows: Effective extension of weighted average maturity by deferring principal payments of around $30 million that would have been due over the four quarters of 2024 – no change in the final maturity date of May 19, 2028 (“Maturity Date”); Mandatory principal repayments to restart in first quarter of 2025 with the option, but not obligation,
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WTI
News
- W&T Offshore, Inc. (NYSE: WTI) had its price target raised by analysts at Stifel Nicolaus from $7.50 to $7.80. They now have a "buy" rating on the stock.MarketBeat
- An Intrinsic Calculation For W&T Offshore, Inc. (NYSE:WTI) Suggests It's 36% Undervalued [Yahoo! Finance]Yahoo! Finance
- W&T Announces Addition to its Board of DirectorsGlobeNewswire
- W&T (WTI) Up 5.7% Since Last Earnings Report: Can It Continue? [Yahoo! Finance]Yahoo! Finance
- Can W&T Offshore, Inc. (NYSE:WTI) Maintain Its Strong Returns? [Yahoo! Finance]Yahoo! Finance
WTI
Earnings
- 3/5/24 - Miss
WTI
Analyst Actions
- 4/23/24 - Stifel
WTI
Sec Filings
- 4/16/24 - Form 3
- 4/11/24 - Form 8-K
- 3/28/24 - Form 8-K
- WTI's page on the SEC website