NorthWestern Energy adds $100 million revolver maturing in 2024

By Wendy Van Sickle

Columbus, Ohio, Nov. 3 – NorthWestern Corp., which does business as NorthWestern Energy, entered into a $100 million credit agreement to supplement its existing $425 million revolver on Oct. 28, according to an 8-K filing with the Securities and Exchange Commission.

The additional credit facility has a maturity date of April 28, 2024.

Mizuho Bank Ltd., BMO Capital Markets Corp. and Keybank NA are joint lead arrangers of the additional facility. BMO and Keybank are the co-syndication agents. Mizuho is the administrative agent.

Borrowings bear interest at SOFR plus a credit spread adjustment of 10 basis points plus a margin ranging from 100 bps to 175 bps, based on the company’s senior unsecured credit ratings.

Advances, if any, will be used for general corporate purposes.

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

No borrowings were drawn at closing.

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

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