Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ARTESIAN RESOURCES CORP incurred loan of $901,170, $1,042,695 and $1,050,000 with Delaware Drinking Water State Revolving Fund at 1.0% per annum maturing June 1, 2043 and December 1, 2043.
- Instrument
- loan
- Principal
- $901,170, $1,042,695 and $1,050,000
- Counterparty
- Delaware Drinking Water State Revolving Fund
- Rate
- 1.0% per annum
- Maturity
- June 1, 2043 and December 1, 2043
- Event
- incurrence
Exact text from the filing
Under the Financing Agreements, the Department has agreed to advance to or to reimburse Artesian Water up to $901,170, $1,042,695 and $1,050,000 (collectively, the “Loans”) from the Fund to finance all or a portion of the costs to replace specific water transmission mains in service areas located in New Castle County, Delaware (collectively, the “Projects”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ARTESIAN RESOURCES CORP entered into Financing Agreements with Delaware Drinking Water State Revolving Fund, acting by and through the Delaware Department of Health & Social Services, Division of Public Health valued at up to $901,170, $1,042,695 and $1,050,000 (effective 2022-12-09).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Delaware Drinking Water State Revolving Fund, acting by and through the Delaware Department of Health & Social Services, Division of Public Health
- Value
- up to $901,170, $1,042,695 and $1,050,000
- Effective
- 2022-12-09
Exact text from the filing
On December 9, 2022, Artesian Water Company, Inc. (“Artesian Water”), a wholly owned subsidiary of Artesian Resources Corporation, entered into three Financing Agreements (the “Financing Agreements”) with the Delaware Drinking Water State Revolving Fund (the “Fund”), acting by and through the Delaware Department of Health & Social Services, Division of Public Health, a public agency of the state of Delaware (the “Department”).
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