Southwest Fuel Holdings, Inc. (NYSE: SWX) (the “Enterprise”) declared right now (March 23) that Southwest Gasoline Company (the “Issuer”), a wholly owned subsidiary of the Business, correctly issued $600 million of 10-year debt at 4.05% and extended $250 million of existing financial debt maturities.
The Issuer accomplished a public giving of $600 million mixture principal quantity of 4.05% Senior Notes due 2032 (the “Notes”). The Issuer received web proceeds from the sale of the Notes of close to $592.7 million, immediately after deducting underwriting discount rates and approximated providing charges payable by the Issuer. The Issuer intends to use the internet proceeds from the giving to redeem the Issuer’s excellent 3.875% Senior Notes owing 2022 in whole, to repay the exceptional quantities under the Issuer’s credit facility and the remainder for basic corporate reasons. The Notes were issued in a registered featuring below the Securities Act of 1933, as amended, pursuant to an powerful shelf registration statement on Type S-3 (File No. 333-251074-01) submitted with the Securities and Exchange Fee on December 2, 2020. You may well attain copies of the prospectus complement and accompanying prospectus relating to the offering with no cost at www.sec.gov.
The Organization also declared nowadays that the Issuer has entered into an amendment to its Phrase Bank loan Settlement, dated as of March 23, 2021 (the “Amended Expression Bank loan Agreement”), with certain creditors, ebook runners and syndication brokers and The Bank of New York Mellon, as Administrative Agent. The Amended Time period Loan Agreement, amongst other items, extends the maturity day of the expression loan to March 21, 2023 and replaces London Interbank Supplied Charge fascination amount benchmarks with Secured Overnight Funding Price interest rate benchmarks. As of March 21, 2022, roughly $250 million in mixture principal quantity was remarkable below the expression bank loan provided for underneath the Time period Mortgage Settlement.
The Company has filed a Form 8-K with the U.S. Securities and Exchange Commission made up of the aspects of the closing of the general public offering and the Amended Time period Loan Agreement.
This announcement does not constitute an give to promote, or a solicitation of an supply to acquire, any stability and does not represent an give, solicitation or sale of any security in any jurisdiction in which these kinds of supply, solicitation or sale would be unlawful. This push release does not represent a detect of redemption for the 3.875% Senior Notes owing 2022. Any these detect will only be produced pursuant to the indenture governing these types of notes.
About Southwest Fuel Holdings, Inc.
Southwest Fuel Holdings, Inc., by way of its subsidiaries, engages in the business of purchasing, distributing and transporting pure fuel, and giving extensive utility infrastructure expert services across North The usa. Southwest Gas Company, a wholly owned subsidiary, properly and reliably delivers all-natural gasoline to over two million shoppers in Arizona, California and Nevada. The Company’s MountainWest subsidiary supplies natural gasoline storage and interstate pipeline services inside the Rocky Mountain location. Centuri Team, Inc., a wholly owned subsidiary, is a strategic infrastructure expert services corporation that associates with regulated utilities to establish and sustain the vitality community that powers tens of millions of houses and corporations across the United States and Canada.
This press launch includes ahead-wanting statements within just the this means of the U.S. Non-public Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended. Such statements include, without the need of limitation, statements pertaining to Southwest Gasoline Holdings, Inc. (the “Company” or “Southwest Gasoline”) and its wholly owned subsidiary, Southwest Gas Corporation, and the Company’s expectations or intentions relating to the foreseeable future. These ahead-on the lookout statements can generally be identified by the use of words and phrases these types of as “will”, “predict”, “continue”, “forecast”, “expect”, “think”, “anticipate”, “outlook”, “could”, “concentrate on”, “venture”, “intend”, “approach”, “request”, “estimate”, “need to”, “may perhaps” and “presume”, as effectively as variations of these text and very similar expressions referring to the long run, and include (without having limitation) statements with regards to anticipations with respect to a separation of Centuri Team, Inc. (“Centuri”), the long run effectiveness of Centuri, Southwest Gas’s dividend ratios and Southwest Gas’s upcoming general performance. A quantity of critical components influencing the company and financial success of the Organization could trigger actual benefits to differ materially from people stated in the forward-seeking statements. These things include, but are not confined to, the timing and volume of level relief, alterations in price structure, client growth premiums, the consequences of regulation/deregulation, tax reform and similar regulatory conclusions, the impacts of development exercise at Centuri, whether or not we will different Centuri within the expected timeframe and the influence to our benefits of functions and fiscal position from the separation, the opportunity for, and the affect of, a credit score downgrade, the expenses to integrate MountainWest Pipelines Holding Corporation (“MountainWest”), long term earnings developments, inflation, sufficiency of labor markets and related resources, seasonal patterns, the expense and administration focus of ongoing litigation that the Enterprise is at the moment engaged in, the effects of the pending tender supply and proxy contest brought by Carl Icahn and his affiliates, and the impacts of stock market place volatility. In addition, the Organization can provide no assurance that its conversations about foreseeable future working margin, operating money, COLI earnings, interest expenditure, and cash expenses of the natural fuel distribution phase will come about. Similarly, the Business can deliver no assurance that discussions relating to utility infrastructure providers segment revenues, EBITDA as a percentage of profits, and interest expenditure will transpire, nor assurance regarding acquisitions or their impacts, together with management’s programs or anticipations similar thereto, which includes with regard to Riggs Distler & Company, Inc. or MountainWest. Aspects that could trigger precise results to differ also include things like (without having limitation) those talked over less than the heading “Possibility Elements” in Southwest Gas Holdings, Inc.’s most new Yearly Report on Form 10-K and in the Firm’s and Southwest Gas Corporation’s existing and periodic reviews, together with our Quarterly Stories on Form 10-Q, filed from time to time with the SEC. The statements in this push release are made as of the day of this press release, even if subsequently produced readily available by the Business on its World wide web web page or usually. The Organization does not believe any obligation to update the ahead-hunting statements, whether or not written or oral, that may well be manufactured from time to time, no matter whether as a result of new data, foreseeable future developments, or usually.
For investor data, contact: Boyd Nelson, (702) 876-7237, [email protected] or Innisfree M&A Incorporated, Scott Wintertime/Jennifer Shotwell/Jon Salzberger, (212) 750-5833.
For media info, get hold of: Sean Corbett, (702) 876-7219, [email protected] or Joele Frank, Wilkinson Brimmer Katcher, Dan Katcher / Tim Lynch, (212) 355-4449.