Questar amends, extends credit facility, increases to $500 million

By Aleesia Forni

Columbus, Ohio, Sept. 7 - Questar Corp. amended its senior unsecured revolving credit facility, extending the maturity date to Aug. 31, 2016 and increasing the principal amount by $150 million, according to an 8-K filed with the Securities and Exchange Commission on Friday.

The amended facility increases the borrowing base to $500 million from $350 million.

The company has the option to request up to $600 million in total commitments.

Pricing terms were also improved due to the amendments.

The swingline facility was increased to $50 million from $25 million.

The company has the option to request two one-year extensions to the new maturity date.

The previous debt covenant ratio of consolidate funded debt to EBITDA was replaced with a new ratio of consolidated funded debt to capitalization.

Questar is a Salt Lake City-based energy company focused on natural gas.

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