Southwest Gas subsidiary Centuri amends credit facility covenants for 2024

Southwest Gas Holdings, Inc.

Interest coverage ratio minimum reduced to 2.00:1.00 for Q1–Q4 2024 from 2.50:1.00.
Net leverage ratio maximum increased to 5.50:1.00 for Q1–Q3 2024 and 5.00:1.00 for Q4 2024.
If Centuri completes a Qualified IPO before March 2025, leverage covenant adjusts based on proceeds.
Amendment effective Nov 13, 2023; other terms of credit facility unchanged.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Southwest Gas Holdings, Inc. amended Amendment No. 3 with Wells Fargo Bank, National Association, as administrative agent (effective 2023-11-13).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, as administrative agent
Effective: 2023-11-13

Exact text from the filing

On November 13, 2023, Centuri Group, Inc. (“Centuri”), a wholly owned subsidiary of Southwest Gas Holdings, Inc. (the “Company”), and Centuri Canada Division Inc. entered into Amendment No. 3 (“Amendment No. 3”) to the Second Amended and Restated Credit Agreement

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Southwest Gas Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-277885

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