SOUTH JERSEY INDUSTRIES, INC. (NYSE:SJI) Files An 8-K Termination of a Material Definitive Agreement

SOUTH JERSEY INDUSTRIES, INC. (NYSE:SJI) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02.Termination of a Material Definitive Agreement.

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On February 6, 2019, South Jersey Industries, Inc. (the “Company”) provided Notice of Optional Prepayment (“Notice of Prepayment”) to the holders of its Floating Rate Senior Notes, Series 2018D, due June 20, 2019 (the “Series 2018D Notes”) of the Company’s intent to prepay a portion of the $475,000,000 aggregate principal amount outstanding of the Notes (the “Prepayment”). Notice was given to Section 8.2 of that certain Note Purchase Agreement, dated as of June 20, 2018 (as amended, the “Note Purchase Agreement”), among the Company and the respective Purchasers named therein. The Prepayment shall take place on Friday, February 22, 2019. The amount of the Prepayment shall be $125,000,000 of principal and shall also include payment of interest accrued thereon to the date of such prepayment, together with the Floating Rate Breakage Amount, if any, on the principal amount of Series 2018D Notes to be prepaid, each as provided in the Note Purchase Agreement. The aggregate amount that has been prepaid, once the February 22nd payment is completed, is $275,000,000. Capitalized terms used and not otherwise defined herein have the meanings specified in the Note Purchase Agreement.

Item 2.04

Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

The Company has disclosed in Item 1.02 above the information relating to the Company’s providing Notice of Prepayment to holders of the Series 2018D Notes, which disclosure is incorporated herein by reference.


South Jersey Industries, Inc. (SJI) is an energy services holding company. The Company provides a range of energy-related products and services, primarily through its subsidiaries. Its subsidiaries include South Jersey Gas Company (SJG), South Jersey Energy Company (SJE), South Jersey Resources Group, LLC (SJRG), South Jersey Exploration, LLC (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC. The Company operates through various segments, including Gas utility operations (SJG), Wholesale energy operations, SJE, On-Site energy production, Appliance service operations and Corporate & Services. The Company groups its nonutility operations into over two categories: Energy Group and Energy Services. Energy Group includes wholesale energy, retail gas and other, and retail electric operations. Energy Services include on-site energy production and appliance service operations.

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