secwatch.observer — SEC 8-K summary
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Issuer:     Southwest Gas Holdings, Inc. (SWX)
CIK:        0001692115
Form:       8-K
Filed at:   2023-01-20T23:59:59+00:00
Accession:  0001193125-23-012081
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southwest Gas Corp. enters $450M term loan to fund higher natural gas costs for winter 2022-2023
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- $450 million 364-day term loan, maturing January 19, 2024, under a credit agreement with JPMorgan as agent.
- Proceeds to fund higher-than-expected natural gas costs for Nov 2022–Mar 2023 due to low storage, pipeline maintenance, and cold weather.
- Interest at SOFR+0.10% plus 0.95% margin (ABR loans at alternate base rate plus 0.00%), with floors of 0.00% (SOFR) and 1.00% (ABR).
- Covenant requires funded debt to total capitalization not exceed 0.70 to 1.00 at quarter-end.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692115/000119312523012081/0001193125-23-012081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/92416/000119312523012081/d439616d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-012081

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