National Fuel Gas gets $1 billion five-year revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, Feb. 28 – National Fuel Gas Co. entered into a credit agreement on Monday with administrative agent JPMorgan Chase Bank, NA, providing for a $1 billion five-year revolver, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings bear interest at term SOFR plus a margin ranging from 125 basis points to 225 bps, depending on the company’s credit ratings. There is a facility fee ranging from 12.5 bps to 22.5 bps. Based on the company’s current credit ratings, the facility fee would be 17.5 bps.

JPMorgan, BofA Securities, Inc., HSBC Bank USA and Wells Fargo Securities, LLC are the co-bookrunners and lead arrangers.

Bank of America, NA, HSBC, NA and Wells Fargo Bank, NA are the syndication agents.

Canadian Imperial Bank of Commerce, New York Branch, Keybank, NA, PNC Bank, NA and U.S. Bank NA are the co-documentation agents.

Proceeds may be used to repay existing debt and for general corporate purposes.

National Fuel Gas is a natural gas provider based in Williamsville, N.Y.

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