SPIRE INC (SR): debt financing — Spire Missouri Inc. enters $200M unsecured term loan due Oct 2024

SPIRE INC

$200M unsecured term loan fully drawn on Jan 3, 2024, matures Oct 3, 2024 (9-month term).
Interest rate: 1-month Term SOFR + 0.10% SOFR adjustment + 0.90% margin.
Proceeds used for working capital and general corporate purposes.
Loan contains customary representations, covenants, and events of default.
U.S. Bank as admin agent; Mizuho, Regions, TD as co-syndication agents; Commerce as managing agent.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SPIRE INC incurred term loan of $200 million with U.S. Bank National Association at one-month term secured overnight financing rate ("SOFR") plus a SOFR adjustment maturing October 3, 2024.

Instrument: term loan
Principal: $200 million
Counterparty: U.S. Bank National Association
Rate: one-month term secured overnight financing rate ("SOFR") plus a SOFR adjustment
Maturity: October 3, 2024
Event: incurrence

Exact text from the filing

On January 3, 2024, Spire Missouri Inc. (the "Company") entered into a loan agreement (the "Loan Agreement") among the Company, U.S. Bank National Association, as administrative agent, and the lenders party thereto. The Loan Agreement provides for a $200 million unsecured term loan, which was fully disbursed on January 3, 2024. The term loan matures on October 3, 2024. Interest accrues on the term loan at the one-month term secured overnight financing rate ("SOFR") plus a SOFR adjustment of 0.10% per annum plus a margin of 0.90% per annum.

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Source: SEC EDGAR

accession 0001437749-24-000389

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