NorthWestern Energy adds $100 million term loan maturing in 2025

By Mary-Katherine Stinson

Lexington, Ky., April 18 – NorthWestern Corp., which does business as NorthWestern Energy, entered into a $100 million term loan credit agreement with U.S. Bank NA on April 12, according to an 8-K filing with the Securities and Exchange Commission.

It was fully drawn at closing.

Borrowings bear interest at term SOFR plus 90 basis points.

The credit facility has a maturity date of April 11, 2025.

It may be repaid at any time; however, amounts repaid may not be reborrowed.

Advances under the loan are subject to certain conditions precedent.

The one financial covenant requires that the ratio of consolidated debt to total capitalization is no greater than 65%.

The loan is subject to acceleration upon an event of default or cross-default in excess of $50 million, change of control, entry of judgments of $50 million or more not covered by insurance, the occurrence of certain events under the Employee Retirement Income Security Act of 1974 and bankruptcy events.

The energy company is based in Sioux Falls, S.D.

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