---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-134715"
form_type: "8-K"
ticker: "SR"
cik: "0001126956"
company_name: "SPIRE INC"
filed_at: "2026-03-31T23:59:59+00:00"
generated_at: "2026-05-15T08:05:42.287586+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Spire completes $2.48B acquisition of Piedmont Natural Gas Tennessee business from Duke Energy

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-134715
- form_type: 8-K
- ticker: SR
- cik: 0001126956
- company_name: SPIRE INC
- filed_at: 2026-03-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1126956/000119312526134715/0001193125-26-134715-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1126956/000119312526134715/sr-20260326.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-134715
- JSON: https://secwatch.observer/filing/0001193125-26-134715.json
- Plain text: https://secwatch.observer/filing/0001193125-26-134715.txt

## Source-grounded claims
- claim_id: 31012eef2d3c735daa89850a45e0a12498f0e395
  claim: SPIRE INC incurred senior notes of $825,000,000.
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126956/000119312526134715/0001193125-26-134715-index.htm
- claim_id: cd3dcb8ac88f885deda0af2ee19d1d442ab9ea26
  claim: 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.
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126956/000119312526134715/0001193125-26-134715-index.htm
- claim_id: 283c83f524e8116b6e227e20fd87bb3128e100e5
  claim: SPIRE INC completed an acquisition involving Piedmont Natural Gas Company, Inc. for $2.48 billion in cash (closed 2026-03-31).
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126956/000119312526134715/0001193125-26-134715-index.htm
- claim_id: 417b4b31060b8d7d8152d498d9238f6cbd38ea0a
  claim: 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).
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126956/000119312526134715/0001193125-26-134715-index.htm
- claim_id: e49285d4f70757ea3fed528d96936c0d0c31ee33
  claim: SPIRE INC terminated Delayed Draw Term Loan Agreement, dated as of August 22, 2025 with Bank of Montreal (effective 2026-03-26).
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126956/000119312526134715/0001193125-26-134715-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.