Centuri Group shops amendment to transition term loan to SOFR

By Sara Rosenberg

New York, May 25 – Centuri Group Inc. is seeking a negative consent amendment to shift its term loan due 2028 to SOFR from Libor and add a credit spread adjustment, according to a market source.

The CSA being offered is ARRC standard of 11.448 basis points one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Wells Fargo Securities LLC is the lead arranger on the deal.

The amendment deadline is Wednesday, the source added.

Centuri, a wholly owned subsidiary of Southwest Gas Holdings Inc., is a Phoenix-based utility services enterprise dedicated to delivering a diverse array of solutions to North America’s gas and electric providers.

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