Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
RGC RESOURCES INC amended term loan of $14,000,000 Term Note and $8,000,000 Term Note with Atlantic Union Bank at Daily Simple SOFR plus 126.448 basis points maturing All other terms and requirements retained, including maturity..
- Instrument
- term loan
- Principal
- $14,000,000 Term Note and $8,000,000 Term Note
- Counterparty
- Atlantic Union Bank
- Rate
- Daily Simple SOFR plus 126.448 basis points
- Maturity
- All other terms and requirements retained, including maturity.
- Event
- amendment
Exact text from the filing
On June 28, 2023, RGC Midstream, LLC (“Midstream”), a wholly-owned subsidiary of RGC Resources, Inc. (“Resources”), amended and restated the $14,000,000 Term Note and $8,000,000 Term Note (collectively, the “Amended Term Notes”) entered on June 12, 2019 and November 1, 2021, respectively, as amended, with Atlantic Union Bank, effective July 1, 2023. The amendment revised each of the original Term Note’s interest rate from LIBOR plus 115 basis points to Daily Simple SOFR plus 126.448 basis points. All other terms and requirements of the Term Notes were retained.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
RGC RESOURCES INC amended Amendment with Atlantic Union Bank valued at $14,000,000 interest rate swap and $8,000,000 interest rate swap (effective 2023-06-28).
- Action
- amendment
- Counterparty
- Atlantic Union Bank
- Value
- $14,000,000 interest rate swap and $8,000,000 interest rate swap
- Effective
- 2023-06-28
Exact text from the filing
Also, on June 28, 2023, Midstream amended and restated the $14,000,000 interest rate swap and $8,000,000 interest rate swap (collectively, the “Amendment”) initially entered on June 12, 2019 and November 1, 2021, respectively, with Atlantic Union Bank.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
RGC RESOURCES INC amended Amended Term Notes with Atlantic Union Bank valued at $14,000,000 Term Note and $8,000,000 Term Note (effective 2023-06-28).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Atlantic Union Bank
- Value
- $14,000,000 Term Note and $8,000,000 Term Note
- Effective
- 2023-06-28
Exact text from the filing
On June 28, 2023, RGC Midstream, LLC (“Midstream”), a wholly-owned subsidiary of RGC Resources, Inc. (“Resources”), amended and restated the $14,000,000 Term Note and $8,000,000 Term Note (collectively, the “Amended Term Notes”) entered on June 12, 2019 and November 1, 2021, respectively, as amended, with Atlantic Union Bank, effective July 1, 2023.
View on SEC.gov