NorthWestern Energy Group, Inc. (NWE): debt financing — NorthWestern Energy subsidiary enters $225M secured term loan, repays revolver

NorthWestern Energy Group, Inc.

Borrowed full $225M under secured term loan to repay portion of existing $425M unsecured revolving credit facility.
Term loan matures Nov 26, 2027, bears SOFR + 0.85% margin; secured by $225M first mortgage bond.
Covenant requires consolidated debt to capitalization ratio not exceed 65%.
Cross-default trigger at $50M aggregate indebtedness; customary events of default included.
Term loan may not be reborrowed; amounts prepaid reduce commitment permanently.

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 mortgage of $225 million with The Bank of New York Mellon and Dimple Gandhi, as trustees at variable rates equal to the interest rate applicable to the Term Loan.

Instrument: mortgage
Principal: $225 million
Counterparty: The Bank of New York Mellon and Dimple Gandhi, as trustees
Rate: variable rates equal to the interest rate applicable to the Term Loan
Event: incurrence

Exact text from the filing

NW Corp's obligations under the Term Loan are secured by a $225 million first mortgage bond

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

NorthWestern Energy Group, Inc. incurred term loan of $225 million with Bank of America, N.A., as administrative agent at SOFR plus an applicable margin maturing November 26, 2027.

Instrument: term loan
Principal: $225 million
Counterparty: Bank of America, N.A., as administrative agent
Rate: SOFR plus an applicable margin
Maturity: November 26, 2027
Event: incurrence

Exact text from the filing

ay 27, 2026, NorthWestern Corporation (" NW Corp "), a wholly owned subsidiary of NorthWestern Energy Group, Inc., d/b/a NorthWestern Energy (Nasdaq: NWE) (“ NWE Group ”), entered into a $225 million secured term loan credit agreement (the “ Term Loan ”) with Bank of America, N.A., as administrative agent (the " Administrative Agent "), and BOFA Securities, Inc., BMO Bank N.A., Keybank National Association, and U.S.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NorthWestern Energy Group, Inc. entered into Term Loan with Bank of America, N.A., as administrative agent, and BOFA Securities, Inc., BMO Bank N.A., Keybank National Association, and U.S. Bank National Association, as joint lead arrangers and bookrunners valued at $225 million (effective 2026-05-27).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent, and BOFA Securities, Inc., BMO Bank N.A., Keybank National Association, and U.S. Bank National Association, as joint lead arrangers and bookrunners
Value: $225 million
Effective: 2026-05-27

Exact text from the filing

On May 27, 2026, NorthWestern Corporation (" NW Corp "), a wholly owned subsidiary of NorthWestern Energy Group, Inc., d/b/a NorthWestern Energy (Nasdaq: NWE) (“ NWE Group ”), entered into a $225 million secured term loan credit agreement (the “ Term Loan ”) with Bank of America, N.A., as administrative agent (the " Administrative Agent "), and BOFA Securities, Inc., BMO Bank N.A., Keybank National Association, and U.S. Bank National Association, as joint lead arrangers and bookrunners.

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NorthWestern Energy Group, Inc. filing history →

Source: SEC EDGAR

accession 0001993004-26-000044

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