secwatch.observer — SEC 8-K summary
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Issuer:     RGC RESOURCES INC (RGCO)
CIK:        0001069533
Form:       8-K
Filed at:   2023-03-28T23:59:59+00:00
Accession:  0001437749-23-008244
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RGC Resources subsidiary enters $25M revolving credit facility with Pinnacle Bank
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1069533/000143774923008244/0001437749-23-008244-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1069533/000143774923008244/rgco20230328_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-008244

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