Gas Natural Inc. (EGAS: Quote) announced Thursday that its subsidiary, Energy West Incorporated, renewed its existing $30 million revolving credit facility and entered into a new $10 million term loan through April 2017 with Bank of America.
The revolving credit facility includes an annual commitment fee ranging from 25 to 45 basis points of the unused portion of the facility and interest on the amounts outstanding at LIBOR plus 175 to 225 basis points.
The term loan includes an interest rate of LIBOR plus 175 to 225 basis points with an interest rate swap provision that allows for the interest rate to be fixed in the future.
The term loan also carries an amortization of principal provision of $125,000 per quarter with the first principal payment being due December 31, 2012.
Click here to receive FREE breaking news email alerts for Gas Natural Inc. and others in your portfolio
by RTT Staff Writer
For comments and feedback: email@example.com