ONE Gas amends and restates $1 billion revolving credit facility

Chicago, March 16 – ONE Gas, Inc. amended and restated its $1 billion revolving credit facility with Bank of America, NA as administrative agent, swingline lender and letter-of-credit issuer on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

The revolver includes a $20 million letter-of-credit sub-facility and a $60 million swingline sub-facility.

The revolver matures March 16, 2026, but the company has the ability to extend the maturity date by one year up to two times, with lenders’ consent.

Interest is based on debt rating. The facility fee varies from 6 basis points to 20 bps, based on ratings. And, interest ranges from Libor plus 69 bps to 130 bps.

The 364-day credit facility from April 7, 2020 has been terminated and all obligations have been paid in full and discharged. Bank of America, NA was the administrative agent on that facility.

JPMorgan Chase Bank, NA, Mizuho Bank, Ltd., Royal Bank of Canada, Truist Bank, U.S. Bank NA and Wells Fargo Bank, NA were the co-syndication agents.

BofA Securities, Inc., JPMorgan Chase Bank, NA, Mizuho Bank, Ltd., RBC Capital Markets, Truist Securities, Inc., U.S. Bank NA and Wells Fargo Securities, LLC were joint lead arrangers and joint bookrunners.

ONE Gas is a natural gas distribution company based in Tulsa, Okla.

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