Atmos Energy gets $200 million two-year loan to repay commercial paper

By Wendy Van Sickle

Columbus, Ohio, April 13 – Atmos Energy Corp. obtained a $200 million two-year term loan on April 9 with Credit Agricole CIB as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

Canadian Imperial Bank of Commerce, New York Branch is syndication agent. Credit Agricole and CIBC are the joint lead arrangers and bookrunners.

Interest on the loans will range from Libor plus 112.5 basis points to 175 bps, based on the company’s credit ratings, for an effective initial rate of 2.29%.

Proceeds will be used to repay $200 million of outstanding commercial paper.

The term loan expires on April 9, 2022.

The covenants require that during the term of the facility the company’s debt to capitalization ratio must be less than or equal to 0.7 times.

Atmos is a natural gas transportation and storage company is based in Dallas.

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