8-K
filed March 31, 2026, 7:59 PM ET
ticker SR
CIK 0001126956
M&A
confidence high
sentiment positive
materiality 0.85
SPIRE INC (SR): M&A transaction — Spire completes $2.48B acquisition of Piedmont Natural Gas Tennessee business from Duke Energy
SPIRE INC
- Acquisition of Piedmont Natural Gas Tennessee for $2.48B cash closed on March 31, 2026.
- Spire Tennessee becomes largest investor-owned natural gas utility in Tennessee, serving 200,000+ customers.
- Acquisition funded with $800M DDTL (SOFR+0.85%) and $825M Senior Notes (4.59%-5.44% tranches due 2029-2038).
- More than 200 Piedmont employees transition to Spire; Joe Hampton named president of Spire Tennessee.
- Spire reaffirms long-term adjusted EPS growth of 5-7% supported by the acquisition.
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
SPIRE INC incurred senior notes of $825,000,000.
- Instrument
- senior notes
- Principal
- $825,000,000
- Event
- incurrence
Exact text from the filing
On March 31, 2026, Spire Tennessee completed the issuance and sale of an aggregate $825,000,000 principal amount of its Series 2026 Senior Notes
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SPIRE INC incurred credit facility of $800,000,000 with Bank of Montreal, as administrative agent at Adjusted Term SOFR plus 0.85% maturing March 30, 2027.
- Instrument
- credit facility
- Principal
- $800,000,000
- Counterparty
- Bank of Montreal, as administrative agent
- Rate
- Adjusted Term SOFR plus 0.85%
- Maturity
- March 30, 2027
- Event
- incurrence
Exact text from the filing
N.A., as senior managing agent, Royal Bank of Canada, as managing agent, and the banks party thereto (collectively, the “Banks”). The DDTL Agreement provides for an aggregate $800,000,000 of delayed draw senior unsecured term loan commitments, consisting of (i) a delayed draw term loan tranche A facility in an aggregate principal amount of up to $600,000,000 (the
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
SPIRE INC completed an acquisition involving Piedmont Natural Gas Company, Inc. for $2.48 billion in cash (closed 2026-03-31).
- Action
- acquisition
- Counterparty
- Piedmont Natural Gas Company, Inc.
- Consideration
- $2.48 billion in cash
- Closing
- 2026-03-31
Exact text from the filing
On March 31, 2026, and pursuant to the Asset Purchase Agreement, Spire completed the Transaction for $2.48 billion in cash, subject to customary purchase price adjustments as set forth in the Asset Purchase Agreement.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SPIRE INC entered into Delayed Draw Term Loan Agreement with Bank of Montreal, as administrative agent valued at $800,000,000 (effective 2026-03-26).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Bank of Montreal, as administrative agent
- Value
- $800,000,000
- Effective
- 2026-03-26
Exact text from the filing
On March 26, 2026, Spire Inc. (“Spire” or the “Company”) entered into a Delayed Draw Term Loan Agreement (the “DDTL Agreement”) with Bank of Montreal, as administrative agent
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SPIRE INC terminated Delayed Draw Term Loan Agreement, dated as of August 22, 2025 with Bank of Montreal (effective 2026-03-26).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Bank of Montreal
- Effective
- 2026-03-26
Exact text from the filing
the Delayed Draw Term Loan Agreement, dated as of August 22, 2025, among the Company, the banks from time to time party thereto and Bank of Montreal, as administrative agent, was terminated and all amounts owed thereunder were paid in full
View on SEC.gov
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