--- schema_version: "secwatch.filing_event.v1" accession: "0001437749-23-008244" form_type: "8-K" ticker: "RGCO" cik: "0001069533" company_name: "RGC RESOURCES INC" filed_at: "2023-03-28T23:59:59+00:00" generated_at: "2026-06-17T11:43:09.801637+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # RGC Resources subsidiary enters $25M revolving credit facility with Pinnacle Bank ## Summary - Roanoke Gas signs $25M revolving note with Pinnacle Bank, maturing March 31, 2024, replacing prior Wells Fargo line. - Variable rate is Term SOFR + 110 bps; borrowing limits range from $4M to $25M seasonally. - $10M term note amended: rate changed from LIBOR+100 bps to Term SOFR+100 bps, effective April 1, 2023. - Loan and guaranty agreements amended; operating accounts moved to Pinnacle. - Proceeds used for working capital and bridge financing for infrastructure projects. ## SEC filing metadata - accession: 0001437749-23-008244 - form_type: 8-K - ticker: RGCO - cik: 0001069533 - company_name: RGC RESOURCES INC - filed_at: 2023-03-28T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1069533/000143774923008244/0001437749-23-008244-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1069533/000143774923008244/rgco20230328_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001437749-23-008244 - JSON: https://secwatch.observer/filing/0001437749-23-008244.json - Plain text: https://secwatch.observer/filing/0001437749-23-008244.txt ## Key facts - Debt Financings RGC RESOURCES INC amended term loan of $10,000,000 with Pinnacle Bank at Term SOFR plus 100 basis points. - Instrument: term loan - Principal: $10,000,000 - Counterparty: Pinnacle Bank - Rate: Term SOFR plus 100 basis points - Event: amendment source text: Also, on March 24, 2023, Roanoke amended and restated the $10,000,000 Promissory Note (the “Amended Term Note”) entered on September 24, 2021 with Pinnacle. The amendment revised the original Term Note’s interest rate from LIBOR plus 100 basis points to Term SOFR plus 100 basis points. evidence_url: https://www.sec.gov/Archives/edgar/data/1069533/000143774923008244/0001437749-23-008244-index.htm - Debt Financings RGC RESOURCES INC incurred revolving credit of $25,000,000 with Pinnacle Bank at Term SOFR plus 110 basis points maturing March 31, 2024. - Instrument: revolving credit - Principal: $25,000,000 - Counterparty: Pinnacle Bank - Rate: Term SOFR plus 110 basis points - Maturity: March 31, 2024 - Event: incurrence source text: On March 24, 2023, Roanoke Gas Company (“Roanoke”), the utility subsidiary of RGC Resources, Inc. (“Resources”), entered into a Promissory Note in the principal amount of $25,000,000 (the “Revolving Note”) with Pinnacle Bank (“Pinnacle”). The Revolving Note will mature on March 31, 2024. evidence_url: https://www.sec.gov/Archives/edgar/data/1069533/000143774923008244/0001437749-23-008244-index.htm - Material Agreements RGC RESOURCES INC amended Amended Loan Agreement with Pinnacle Bank valued at Amendment and restatement of Loan Agreement (effective 2023-03-24). - Action: amendment - Agreement: credit facility - Counterparty: Pinnacle Bank - Value: Amendment and restatement of Loan Agreement - Effective: 2023-03-24 source text: In connection with the Revolving Note and Amended Term Note, on March 24, 2023, Roanoke also amended and restated the Loan Agreement ("Amended Loan Agreement") with Pinnacle dated September 24, 2021. evidence_url: https://www.sec.gov/Archives/edgar/data/1069533/000143774923008244/0001437749-23-008244-index.htm - Material Agreements RGC RESOURCES INC entered into Revolving Note with Pinnacle Bank valued at $25,000,000 promissory note (effective 2023-03-24). - Action: entry - Agreement: credit facility - Counterparty: Pinnacle Bank - Value: $25,000,000 promissory note - Effective: 2023-03-24 source text: On March 24, 2023, Roanoke Gas Company (“Roanoke”), the utility subsidiary of RGC Resources, Inc. (“Resources”), entered into a Promissory Note in the principal amount of $25,000,000 (the “Revolving Note”) with Pinnacle Bank (“Pinnacle”). evidence_url: https://www.sec.gov/Archives/edgar/data/1069533/000143774923008244/0001437749-23-008244-index.htm - Material Agreements RGC RESOURCES INC amended Amended Term Note with Pinnacle Bank valued at Amendment of $10,000,000 promissory note, interest rate revised from LIBOR+100bps to Term SOFR+100bp (effective 2023-04-01). - Action: amendment - Agreement: credit facility - Counterparty: Pinnacle Bank - Value: Amendment of $10,000,000 promissory note, interest rate revised from LIBOR+100bps to Term SOFR+100bp - Effective: 2023-04-01 source text: Also, on March 24, 2023, Roanoke amended and restated the $10,000,000 Promissory Note (the “Amended Term Note”) entered on September 24, 2021 with Pinnacle. evidence_url: https://www.sec.gov/Archives/edgar/data/1069533/000143774923008244/0001437749-23-008244-index.htm - Material Agreements RGC RESOURCES INC amended Amended Guaranty Agreement with Pinnacle Bank valued at Amendment and restatement of Guaranty Agreement (effective 2023-03-24). - Action: amendment - Agreement: credit facility - Counterparty: Pinnacle Bank - Value: Amendment and restatement of Guaranty Agreement - Effective: 2023-03-24 source text: Also, on March 24, 2023, the Guaranty Agreement previously entered into on September 24, 2021 by Resources with Pinnacle was amended and restated to reflect the Amended Loan Agreement. evidence_url: https://www.sec.gov/Archives/edgar/data/1069533/000143774923008244/0001437749-23-008244-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.