secwatch.observer — SEC 8-K summary
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Issuer:     RGC RESOURCES INC (RGCO)
CIK:        0001069533
Form:       8-K
Filed at:   2024-03-07T23:59:59+00:00
Accession:  0001437749-24-006939
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RGC Midstream amends credit facility to $25M, extends maturity; pauses principal payments on $8M note
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- Credit facility increased from $23M to $25M; maturity extended to Dec 31, 2025.
- Interest rate currently Term SOFR+2.00%; can drop to +1.75% after MVP operational, +1.55% after MVP distributions.
- Truist Bank assigned its outstanding portion to Atlantic Union Bank.
- Principal payments on $8M note halted until April 1, 2025; then quarterly $400k payments; maturity Jan 1, 2028.
- Guarantee by RGC Resources remains in full force.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1069533/000143774924006939/0001437749-24-006939-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1069533/000143774924006939/rgco20240306_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-006939

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer