UNITIL CORP (UTL): debt financing — Unitil closes $71.2M purchase of Bangor Natural Gas; expands credit facility to $275M

UNITIL CORP

Acquired Bangor Natural Gas from PHC Utilities for $70.9M in cash plus ~$0.3M working capital adjustment.
Bangor adds ~8,500 customers, 351 miles distribution & 9 miles transmission pipelines to Unitil's system.
Unitil now serves ~207,000 customers across Maine, New Hampshire, and Massachusetts.
Increased revolving credit facility from $200M to $275M and extended term to September 29, 2028.
Acquisition received Maine Public Utilities Commission approval; all conditions met as of January 31, 2025.

item 1.01 item 2.03 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

UNITIL CORP amended credit facility of increases the borrowing limit from $200 million to $275 million with Bank of America, N.A., Citizens Bank, N.A., and TD Bank, N.A. maturing extended from September 29, 2027 until September 29, 2028.

Instrument: credit facility
Principal: increases the borrowing limit from $200 million to $275 million
Counterparty: Bank of America, N.A., Citizens Bank, N.A., and TD Bank, N.A.
Maturity: extended from September 29, 2027 until September 29, 2028
Event: amendment

Exact text from the filing

The Second Amendment, among other things, (i) increases the borrowing limit under the Third Amended and Restated Credit Agreement from $200 million to $275 million and (ii) extends the term of the Third Amended and Restated Credit Agreement from September 29, 2027 until September 29, 2028.

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Source: SEC EDGAR

accession 0001193125-25-020122

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