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XPLR Infrastructure, LP (NYSE:XIFR), a $772 million market cap company currently trading at a significant discount to its InvestingPro Fair Value, announced Monday that two of its indirect subsidiaries have entered into new senior secured term loan facilities totaling approximately $426 million to support renewable energy projects. The financing comes as the company maintains a healthy current ratio of 1.85, indicating strong short-term liquidity. The information is based on a statement in a press release filed with the Securities and Exchange Commission.
On Friday, Clark Portfolio Holdings, LLC, an indirect subsidiary of XPLR Infrastructure, closed an approximately $254 million limited-recourse senior secured variable rate term loan facility maturing in June 2030. The entire amount was drawn at closing, adding to the company’s existing total debt of $6.5 billion. Interest payments will be based on an underlying index plus a specified margin, payable quarterly starting in September 2025, with principal amortization on a semi-annual basis beginning in December 2025. The loan is secured by all assets and equity interests of Clark Holdings and its subsidiaries, which include renewable energy projects with a combined net generating capacity of about 191 megawatts. Clark Holdings also entered into interest rate swaps to hedge against interest rate movements related to the loan. The agreement includes provisions for default and acceleration in the event of missed payments, covenant breaches, bankruptcy, or other specified actions.
Also on Friday, Lewis (JO:LEWJ) Portfolio Holdings, LLC, another indirect subsidiary of XPLR Infrastructure, entered into a $172 million limited-recourse senior secured variable rate term loan facility, also maturing in June 2030. Approximately $84 million was drawn at closing. The loan features similar interest and amortization terms, with quarterly interest payments beginning in September 2025 and semi-annual principal payments starting in December 2025. The loan is secured by all assets and equity interests of Lewis Holdings and its subsidiaries, which comprise renewable energy projects with a combined net generating capacity of approximately 639 megawatts. Lewis Holdings entered into interest rate swaps in connection with the loan, and the agreement contains similar default and acceleration provisions.
These financings align with XPLR Infrastructure’s previously outlined 2025-2026 financing plan, according to the company’s statement.
In other recent news, XPLR Infrastructure reported a net loss of $98 million for the first quarter, primarily due to a non-cash goodwill impairment. Despite this loss, the company saw a 2% year-over-year increase in adjusted EBITDA, reaching $471 million, thanks to a boost in net generation. XPLR Infrastructure has reaffirmed its full-year adjusted EBITDA guidance, expecting it to be between $1.85 billion and $2.05 billion, and maintained its 2026 free cash flow before growth guidance at $600 million to $700 million. Mizuho (NYSE:MFG) Securities revised its price target for XPLR Infrastructure to $12 from $15, maintaining a Neutral rating, with the update reflecting current market conditions.
At the 2025 Annual Meeting of Unitholders, XPLR Infrastructure announced that all four director nominees were elected with significant support, including Susan D. Austin and Robert J. Byrne, who received over 85% approval. The appointment of Deloitte & Touche LLP as the company’s independent auditor was ratified with 98.1% approval. Additionally, the advisory vote on executive compensation passed with 90.8% support. These outcomes demonstrate strong unitholder backing for the company’s governance and executive compensation practices.
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