New York, May 23 – Roanoke Gas Co. agreed to issue $8 million of 3.58% 10-year notes with Prudential Investment Management, Inc.
Closing is scheduled for Oct. 2, according to an 8-K filing with the Securities and Exchange Commission.
The notes will be issued from Roanoke Gas’ private shelf agreement with Prudential.
Proceeds will be used to repay borrowings under the company’s line of credit.
Roanoke Gas is a utility subsidiary of RGC Resources, Inc., a Roanoke, Va., supplier of natural gas.
| Issuer: | Roanoke Gas Co.
|
| Issue: | Notes
|
| Amount: | $8 million
|
| Maturity: | Oct. 2, 2027
|
| Coupon: | 3.58%
|
| Pricing date: | May 18
|
| Settlement date: | Oct. 2
|
| Investor: | Prudential Investment Management, Inc.
|
| Distribution: | Private placement
|
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