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New Jersey Natural Gas places $150 million; Nicolet Bankshares issues $8 million 5% notes
By Lisa Kerner
Charlotte, N.C., Feb. 17 – New Jersey Resources Corp. subsidiary New Jersey Natural Gas Co. entered into a note purchase agreement on Feb. 12 and agreed to sell $50 million of 2.82% series A senior notes due April 15, 2025 and $100 million of 3.66% series B senior notes due April 15, 2045.
Proceeds will be used for general corporate purposes, including to refinance or retire debt and to fund capital expenditure requirements, according to an 8-K filing with the Securities and Exchange Commission.
The notes have a make-whole call at Treasuries plus 50 basis points.
Based in Wall, N.J., New Jersey Resources provides natural gas services and renewable energy to the New England area.
Nicolet Bankshares, Inc. issued $8 million of 10-year 5% subordinated notes to institutional investors in a private placement on Tuesday, according to an 8-K filing with the SEC.
Proceeds will be used for general corporate purposes, including the redemption of preferred stock, repurchases of common stock and expansion of the company’s franchise through acquisition, the filing said.
Nicolet Bankshares operates as the bank holding company for Nicolet National Bank based in Green Bay, Wisc.
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