National Fuel Gas Company (NFG) has released an update.
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National Fuel Gas Company has secured a $300 million unsecured term loan credit facility from a consortium of banks led by JPMorgan Chase, with a maturity date of February 14, 2026. This facility, which allows the company to draw funds in up to three elections until April 2024, is intended to refinance existing debts, support general corporate activities, and potentially fund acquisitions. The interest rates for borrowing are tied to the secured overnight financing rate (SOFR) or alternate base rate (ABR), and the company must adhere to certain financial covenants, including a maximum debt to capitalization ratio.
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