SOUTHWEST GAS HOLDINGS, INC. (NYSE:SWX) Files An 8-K Entry into a Material Definitive Agreement
Item1.01 Entry into a Material Definitive Agreement.
On March28, 2017, Southwest Gas Holdings, Inc. entered into a
$100 million credit facility with the lenders party thereto, The
Bank of New York Mellon, as Administrative Agent, Bank of
America, N.A., as Co-Syndication Agent, JPMorgan Chase Bank,
N.A., as Co-Syndication Agent, The Bank of New York Mellon, as
Joint Lead Arranger and Joint Bookrunner, Merrill Lynch, Pierce,
Fenner Smith Incorporated, as Joint Lead Arranger and Joint
Bookrunner, and JPMorgan Chase Bank, N.A., as Joint Lead Arranger
and Joint Bookrunner. The credit facility is scheduled to expire
on March28, 2022. Interest rates for the credit facility are
calculated at either the London Interbank Offered Rate (LIBOR) or
the alternate base rate, plus in each case an applicable margin
that is determined based on Southwest Gas Holdings senior
unsecured debt rating. The applicable margin ranges from 0.750%
to 1.500% for loans bearing interest with reference to LIBOR and
from 0.000% to 0.500% for loans bearing interest with reference
to the alternative base rate. Southwest Gas Holdings, Inc. is
also required to pay a commitment fee on the unfunded portion of
the commitments based on its senior unsecured long-term debt
rating. The commitment fee ranges from 0.075% to 0.200%per annum.
The description of the credit facility does not purport to be
complete and is qualified in its entirety by reference to the
credit facility, which is filed as Exhibit 10.1 hereto and
incorporated herein by reference.
| Item2.03 |
Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. |
The disclosure set forth under Item1.01 is incorporated herein by
reference.
Item9.01 Financial Statements and Exhibits.
(d) Exhibits
|
ExhibitNumber |
Description |
|
| 10.1 | Southwest Gas Holdings, Inc. $100 million Credit Facility |
About SOUTHWEST GAS HOLDINGS, INC. (NYSE:SWX)
Southwest Gas Holdings, Inc., formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc. (Centuri). The Company operates two pipeline transmission systems, such as a system, which includes a liquefied natural gas (LNG) storage facility owned by Paiute extending from the Idaho-Nevada border to the Reno, Sparks, and Carson City areas and communities in the Lake Tahoe area in both California and Nevada and other communities in northern and western Nevada, and a system extending from the Colorado River at the southern tip of Nevada to the Las Vegas distribution area. SOUTHWEST GAS HOLDINGS, INC. (NYSE:SWX) Recent Trading Information
SOUTHWEST GAS HOLDINGS, INC. (NYSE:SWX) closed its last trading session down -0.23 at 82.91 with 233,360 shares trading hands.
