Washington Gas restates revolver for $450 million revolver due 2024

By Wendy Van Sickle

Columbus, Ohio, July 25 – Washington Gas Light Co. entered into an amended and restated credit agreement on July 19 to provide for a $450 million five-year revolver, according to an 8-K filing with the Securities and Exchange Commission.

The new revolver is scheduled to mature on July 19, 2024 and has two one-year extension options. It replaces the company’s $350 million revolver that was entered on April 3, 2012 and was set to mature on Dec. 19.

Washington Gas has the option to increase the revolver by up to $100 million.

Wells Fargo Securities LLC, BB&T Capital Markets, MUFG Bank, Ltd. and TD Securities (USA) LLC are the lead arrangers and joint bookrunners. Wells Fargo Bank, NA is the administrative agent. Branch Banking and Trust Co., MUFG and TD Bank, NA are the co-syndication agents.

The borrower is a subsidiary of WGL Holdings, Inc., a Washington, D.C.-based utility serving Maryland, Virginia and Delaware.

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