NorthWestern Energy Group, Inc. (NWE): debt financing — NorthWestern Energy enters $100M term loan with U.S. Bank; due April 2025

NorthWestern Energy Group, Inc.

Borrowed $100M under unsecured term loan with U.S. Bank National Association.
Variable interest rate based on SOFR + 0.90% margin; due April 11, 2025.
Proceeds for general corporate purposes; prepayable anytime but non-reborrowable.
Financial covenant: consolidated debt to total capitalization ≤ 65%.
Loan subject to cross-default on >$50M other debt and change of control provisions.

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

NorthWestern Energy Group, Inc. incurred term loan of $100 million with U.S. Bank National Association at Secured Overnight Financing Rate (SOFR) plus an applicable margin maturing April 11, 2025.

Instrument: term loan
Principal: $100 million
Counterparty: U.S. Bank National Association
Rate: Secured Overnight Financing Rate (SOFR) plus an applicable margin
Maturity: April 11, 2025
Event: incurrence

Exact text from the filing

On April 12, 2024, NorthWestern Energy Group, Inc. d/b/a NorthWestern Energy (Nasdaq: NWE) (the “ Company ”) entered into a $100 million Term Loan Credit Agreement (the “ Term Loan ”) with U.S. Bank National Association, as lender. The Company has borrowed $100 million under the Term Loan.

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NorthWestern Energy Group, Inc. filing history →

Source: SEC EDGAR

accession 0001993004-24-000031

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