Presidio Production Refinances $350M ABS Debt, Cuts Interest Costs by 184 Bps
FTW sits 31% above its 52-week low of $9.5 on light trading volume (0.2× avg).
Summary
Presidio Production Co. completed a $350 million refinancing of its asset-backed securities, reducing its weighted average interest rate by 184 basis points and improving liquidity.
Key Events · Financing and Capital Events · FTW
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$350 Million ABS Refinancing
Presidio Finance LLC, a subsidiary, issued $350 million in new fixed-rate asset-backed securities (ABS III Notes) in a private offering on June 9, 2026.
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Reduced Interest Costs
The new ABS has a weighted average coupon of 6.38%, a significant 184 basis point reduction from the prior ABS (8.22%).
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Improved Liquidity & Debt Structure
Proceeds were used to fully redeem the prior ABS, pay down $37 million on the RBL facility (leaving it undrawn with a $65 million borrowing base), and fund $35 million in additional hedges.
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Investment Grade Rating
The new notes consist of $175 million Class A-1 Notes (5.902%, rated A-) and $175 million Class A-2 Notes (6.717%, rated BBB), both due 2041.
Analysis · FTW · Energy & Transportation
Presidio Production Co. has significantly strengthened its financial position by refinancing $350 million in asset-backed securities. This transaction lowers the company's weighted average interest rate by 184 basis points, reduces scheduled amortization, and enhances liquidity by paying down its reserve-based lending facility. The new investment-grade notes provide a more efficient capital structure, supporting future growth and improving cash flow.
At the time of this filing, FTW was trading at $12.48 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $366M. The 52-week trading range was $9.50 to $17.20. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.