Target Hospitality Corp. 8K

Target Hospitality Corp. closed a new $660 million asset-based revolving credit facility, replacing its prior $175 million revolver, extending maturities, and lowering borrowing costs to support strategic growth.

Target Hospitality Corp. announced that it has closed a new $660 million asset-based revolving credit facility that replaces its prior $175 million senior secured revolver, nearly quadrupling committed borrowing capacity, extending debt maturities to July 2031, and reducing borrowing costs by up to 250 basis points with interest set at Term SOFR plus 2.25%–3.00% depending on leverage, thereby significantly enhancing liquidity and financial flexibility to pursue a growth pipeline of more than 20,000 beds. The facility includes an accordion feature that could increase total commitments to $850 million subject to lender participation and borrowing base availability, and was arranged by JPMorgan Chase Bank, N.A. as Administrative Agent with several major banks participating as joint lead arrangers, bookrunners, documentation agents, and lenders. Management highlighted that the size and terms of the facility reflect lender confidence in Target Hospitality’s contracted revenue base and growth strategy, and that combined with internal cash flow, the facility is expected to support strategic growth initiatives and general corporate purposes while maintaining a disciplined balance sheet.

Filing Facts

CIK

1712189

Ticker

-

Form

8K

Source Type

sec

Accession

0001104659-26-087099

Alert Tier

7