Atmos Energy gets $200 million three-year loan at Libor plus 90 bps

By Susanna Moon

Chicago, Sept. 27 – Atmos Energy Corp. obtained a $200 million three-year term loan on Sept. 22 with BB&T Capital Markets as the lead arranger and bookrunner and Branch Banking and Trust Co. as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The current interest rate is Libor plus 90 basis points, for an effective rate of 1.42%.

Interest on the loans will range from Libor plus 75 bps to 115 bps, based on the company’s credit ratings. The unused fee is 6 bps to 17.5 bps, with a current rate of 10 bps.

Proceeds will be used to refinance debt and for working capital, capital expenditures and other general corporate purposes.

The term loan expires on Sept. 22, 2019.

The covenants require that during the term of the facility the company’s debt to capitalization ratio must be less than or equal to 0.7 times.

Atmos is a natural gas transportation and storage company is based in Dallas.

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