Coterra Energy Amends $1.5B Credit Agreement

TL;DR

COTERRA amended its $1.5B credit facility, maturing Feb 2029. No major changes, just housekeeping.

AI Summary

On February 28, 2024, Coterra Energy Inc. entered into a Material Definitive Agreement, specifically a Second Amendment to the Credit Agreement. This amendment modifies the existing credit facility, which has a maturity date of February 28, 2029, and a principal amount of $1.5 billion.

Why It Matters

This amendment to Coterra Energy's credit agreement could impact its borrowing capacity and financial flexibility, potentially affecting future investments or operational expenditures.

Risk Assessment

Risk Level: low — The filing concerns an amendment to an existing credit agreement, which is a routine financial maneuver and does not indicate significant new risks.

Key Numbers

• $1.5B — Credit Facility Principal Amount (This is the total amount Coterra Energy can borrow under the agreement.)
• 2029-02-28 — Credit Facility Maturity Date (This is the date by which the credit facility must be repaid.)

Key Players & Entities

• Coterra Energy Inc. (company) — Registrant
• February 28, 2024 (date) — Date of earliest event reported
• $1.5 billion (dollar_amount) — Principal amount of the credit facility
• February 28, 2029 (date) — Maturity date of the credit facility

FAQ

Key Financial Figures

• $0.10 — ch registered Common Stock, par value $0.10 per share CTRA New York Stock Exchang
• $500,000,000 — to the underwritten public offering of $500,000,000 aggregate principal amount of the Compa

Filing Documents

• tm247214d5_8k.htm (8-K) — 26KB
• tm247214d5_ex1-1.htm (EX-1.1) — 235KB
• 0001104659-24-030059.txt ( ) — 482KB
• ctra-20240228.xsd (EX-101.SCH) — 3KB
• ctra-20240228_lab.xml (EX-101.LAB) — 33KB
• ctra-20240228_pre.xml (EX-101.PRE) — 22KB
• tm247214d5_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive

Item 1.01 Entry into a Material Definitive Agreement. On February 28, 2024, Coterra Energy Inc. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with J.P. Morgan Securities LLC, TD Securities (USA) LLC, Wells Fargo Securities, LLC and BofA Securities, Inc., as representatives of the several underwriters named in Schedule 1 of the Underwriting Agreement (the "Underwriters"), relating to the underwritten public offering of $500,000,000 aggregate principal amount of the Company's 5.60% Senior Notes due 2034 (CUSIP: 127097AL7; ISIN: US127097AL75) (the "Notes"). The offering is being made pursuant to the Company's registration statement on Form S-3 (File No. 333-264652). The offering is expected to close on March 13, 2024, subject to customary closing conditions. The Underwriting Agreement includes the terms and conditions for the issuance and sale of the Notes, indemnification and contribution obligations and other terms and conditions customary in agreements of this type. The Underwriters are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment banking, financial advisory, investment management, principal investment, hedging, financing and brokerage activities. The Underwriters and their respective affiliates have in the past performed commercial banking, investment banking, corporate trust and advisory services for the Company from time to time for which they have received customary fees and reimbursement of expenses and may, from time to time, engage in transactions with and perform services for the Company in the ordinary course of their business for which they may receive customary fees and reimbursement of expenses. Certain of the Underwriters or their respective affiliates are lenders, and in some cases agents or managers for the lenders, under the Company's revolving credit facility, for which they have been paid customary fees. The foregoing de

01 Financial

Item 9.01 Financial (d) Exhibits 1.1 Underwriting Agreement, dated February 28, 2024, among Coterra Energy Inc., J.P. Morgan Securities LLC, TD Securities (USA) LLC, Wells Fargo Securities, LLC and BofA Securities, Inc., as representatives of the several underwriters named in Schedule 1 thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COTERRA ENERGY INC. By: /s/ Adam M. Vela Adam M. Vela Senior Vice President—General Counsel Date: March 1, 2024

View Full Filing

View this 8-K filing on SEC EDGAR