RGC RESOURCES INC (RGCO): debt financing — Roanoke Gas amended revolving note to $30M and signed new 3-year asset management deal with DTE

RGC RESOURCES INC

Amended Pinnacle Bank revolving note increased to $30M principal; rate Term SOFR +1.25% (from +1.10%); matures March 31, 2027.
Unused fee rises to 0.25% per year; borrowing limits between $20M and $30M.
New Natural Gas Asset Management Agreement with DTE Energy Trading effective April 1, 2025, replacing Sequent Energy Management for 3 years.
DTE will manage Roanoke Gas's firm interstate pipeline transportation and storage assets; RGC Resources guarantee remains in effect.

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

RGC RESOURCES INC amended revolving credit of $30,000,000 with Pinnacle Bank at Term SOFR plus 1.25% maturing March 31, 2027.

Instrument: revolving credit
Principal: $30,000,000
Counterparty: Pinnacle Bank
Rate: Term SOFR plus 1.25%
Maturity: March 31, 2027
Event: amendment

Exact text from the filing

On March 31, 2025, Roanoke amended and restated it's Promissory Note ("Revolving Note") with Pinnacle Bank ("Pinnacle") originally entered on March 24, 2023 and further amended on March 31, 2024. The amended and restated Revolving Note increased the principal amount to $30,000,000 and applicable interest rate from Term SOFR plus 1.10% to Term SOFR plus 1.25%, and will mature on March 31, 2027.

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Source: SEC EDGAR

accession 0001437749-25-010288

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