8-K - National Fuel Gas Company | StockGist

AI Analysis

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National Fuel Gas Company entered into an Amended and Restated Credit Agreement on March 27, 2026, establishing a $1.3 billion unsecured revolving credit facility maturing on March 27, 2031, with interest rates and fees tied to the company's credit ratings.

Key Takeaways

1Entered into a $1.3 billion unsecured revolving credit facility on March 27, 2026.

2The credit facility has a maturity date of March 27, 2031.

3Interest rates vary based on credit ratings: Term SOFR loans have a margin of 1.00% to 1.525%, Daily Simple SOFR loans have a margin of 1.00% to 1.525%, and Alternate Base Rate loans have a margin of 0.00% to 0.525%.

4Facility fee rate ranges from 0.125% to 0.225% annually, with the current rate at 0.175% based on existing credit ratings.

5Contains a covenant limiting the debt to capitalization ratio to 0.65 at the end of any fiscal quarter.

6Includes a cross-default provision triggered by payment failures of $125.0 million or more under other borrowing arrangements.

Current Report Details

Event Type

Material Agreement

Financing

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. Entry Into a Material Definitive Agreement. Amended and Restated Credit Agreement On March 27, 2026, National Fuel Gas Company (the “ Company ”) entered into

Material Agreement

$1.30B

Source Document

2.03

. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information described in Item 1.01 rela

Financing

9.01

. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Amended and Restated Credit Agreement, dated as of March 27, 2026, among the Com

Exhibits Only

Transaction Details

Material Agreement

Agreement: Amended and Restated Credit Agreement
Parties: National Fuel Gas Company, PNC Bank, National Association (as administrative agent), PNC Bank, National Association, Bank of America, N.A., JPMorgan Chase Bank, N. A., The Toronto-Dominion Bank, New York Branch, Wells Fargo Bank, National Association, Canadian Imperial Bank of Commerce, New York Branch, Goldman Sachs Bank USA, KeyBank National Association, Mizuho Bank, Ltd., U.S. Bank National Association, Comerica Bank, a division of Fifth Third Bank, N.A., M&T Bank Corporation, Truist Bank

•Amends and restates the credit agreement dated February 28, 2022
•Provides a $1.3 billion unsecured committed revolving credit facility
•Initial maturity date of March 27, 2031
•Proceeds may be used to repay commercial paper program obligations, other short-term credit facilities, maturing long-term debt obligations, for general corporate purposes, working capital, capital expenditures, and to fund permitted acquisitions and other investments
•Interest rates depend on credit ratings and loan type (Term SOFR, Daily Simple SOFR, or Alternate Base Rate)
•Facility fee rate ranges from 0.125% to 0.225% of total commitments, currently 0.175% based on current credit ratings
•Contains representations, affirmative, negative, and financial covenants
•Includes a covenant limiting debt to capitalization ratio to 0.65 at the last day of any fiscal quarter
•Contains a cross-default provision triggered by payment failures of $125.0 million or more under other borrowing arrangements
•Contains customary events of default including payment defaults, covenant defaults, bankruptcy events, and change in control

Debt / Financing

Instrument: Unsecured committed revolving credit facility
Principal: 1300000000
Rate: Variable based on credit ratings: Term SOFR loans: Term SOFR plus 1.00% to 1.525%; Daily Simple SOFR loans: Daily Simple SOFR plus 1.00% to 1.525%; Alternate Base Rate loans: Alternate Base Rate plus 0.00% to 0.525%
Maturity: 2031-03-27
Use of Proceeds: Repay obligations under commercial paper programRepay other short-term credit facilitiesRepay maturing long-term debt obligationsGeneral corporate purposes including working capital and capital expendituresFund permitted acquisitions and other investments

Exhibits (2)

10.1

EX-10.1

8-K