---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-018862"
form_type: "8-K"
ticker: "RGCO"
cik: "0001069533"
company_name: "RGC RESOURCES INC"
filed_at: "2023-06-29T23:59:59+00:00"
generated_at: "2026-06-13T14:37:26.361117+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# RGC Midstream amends $22M in term notes and swaps from LIBOR to SOFR

## Summary
- Two term notes ($14M and $8M) amended to replace LIBOR with Daily Simple SOFR plus 126.448 bps.
- Two interest rate swaps also amended; fixed rates of 3.240% and 2.443% retained.
- All other terms and requirements of the original notes and swaps unchanged.
- Amendment effective July 1, 2023; counterparty Atlantic Union Bank.

## SEC filing metadata
- accession: 0001437749-23-018862
- form_type: 8-K
- ticker: RGCO
- cik: 0001069533
- company_name: RGC RESOURCES INC
- filed_at: 2023-06-29T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1069533/000143774923018862/0001437749-23-018862-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1069533/000143774923018862/rgco20230627_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-018862
- JSON: https://secwatch.observer/filing/0001437749-23-018862.json
- Plain text: https://secwatch.observer/filing/0001437749-23-018862.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1069533/000143774923018862/0001437749-23-018862-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1069533/000143774923018862/0001437749-23-018862-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1069533/000143774923018862/0001437749-23-018862-index.htm

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