Atmos Energy Secures $1.5B Credit Facility
Ticker: ATO · Form: 8-K · Filed: Oct 1, 2024 · CIK: 731802
Sentiment: neutral
Topics: financing, credit-facility, debt
TL;DR
Atmos Energy just boosted its credit line to $1.5B and added a new $500M term loan. More cash for growth!
AI Summary
Atmos Energy Corp. announced on September 17, 2024, that it has entered into a new unsecured revolving credit facility with a maximum aggregate principal amount of $1.5 billion. This facility replaces their previous $1.2 billion credit agreement and matures on September 17, 2029. The company also entered into a new $500 million term loan facility, maturing on September 17, 2027.
Why It Matters
This expansion of Atmos Energy's credit facilities provides increased financial flexibility for capital expenditures and general corporate purposes, potentially supporting future growth and operational needs.
Risk Assessment
Risk Level: low — The filing details routine credit facility updates, which are common for companies and do not indicate significant new risks.
Key Numbers
- $1.5B — New Revolving Credit Facility (Increased borrowing capacity for general corporate purposes and capital expenditures.)
- $500M — New Term Loan Facility (Additional funding source with a defined maturity date.)
- 2029 — Revolving Credit Facility Maturity (Extends the company's access to liquidity for five years.)
- 2027 — Term Loan Facility Maturity (Provides medium-term financing.)
Key Players & Entities
- Atmos Energy Corp. (company) — Registrant
- $1.5 billion (dollar_amount) — Maximum aggregate principal amount of new revolving credit facility
- $1.2 billion (dollar_amount) — Previous revolving credit agreement amount
- September 17, 2029 (date) — Maturity date of the new revolving credit facility
- September 17, 2027 (date) — Maturity date of the new term loan facility
- $500 million (dollar_amount) — Principal amount of the new term loan facility
FAQ
What is the purpose of the new credit facilities?
The new credit facilities are intended to provide the company with additional liquidity for capital expenditures and general corporate purposes.
How does the new revolving credit facility compare to the previous one?
The new unsecured revolving credit facility has a maximum aggregate principal amount of $1.5 billion, an increase from the previous $1.2 billion credit agreement.
When do the new credit facilities mature?
The new unsecured revolving credit facility matures on September 17, 2029, and the new term loan facility matures on September 17, 2027.
What is the total new borrowing capacity secured by Atmos Energy?
Atmos Energy has secured a new $1.5 billion revolving credit facility and a new $500 million term loan facility, totaling $2.0 billion in new credit capacity.
Are these new credit facilities secured or unsecured?
The new unsecured revolving credit facility is unsecured, and the filing also mentions a new $500 million term loan facility without specifying its security status in the provided text.
Filing Stats: 767 words · 3 min read · ~3 pages · Grade level 10.4 · Accepted 2024-10-01 08:52:29
Key Financial Figures
- $650 million — ing (the "Offering") by Atmos Energy of $650 million aggregate principal amount of its 5.000
- $638.1 million — xpenses payable by it, of approximately $638.1 million. The Offering is expected to close on o
Filing Documents
- d871045d8k.htm (8-K) — 31KB
- d871045dex11.htm (EX-1.1) — 183KB
- d871045dex41.htm (EX-4.1) — 25KB
- d871045dex42.htm (EX-4.2) — 35KB
- d871045dex51.htm (EX-5.1) — 12KB
- d871045dex52.htm (EX-5.2) — 23KB
- g871045g0927042657202.jpg (GRAPHIC) — 3KB
- g871045g0927042657461.jpg (GRAPHIC) — 4KB
- g871045g0927042657581.jpg (GRAPHIC) — 3KB
- 0001193125-24-229575.txt ( ) — 545KB
- ato-20240917.xsd (EX-101.SCH) — 3KB
- ato-20240917_def.xml (EX-101.DEF) — 13KB
- ato-20240917_lab.xml (EX-101.LAB) — 21KB
- ato-20240917_pre.xml (EX-101.PRE) — 14KB
- d871045d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 1.1 Underwriting Agreement dated as of September 17, 2024 4.1 Form of Officers' Certificate, to be dated October 1, 2024 4.2 Form of Global Security for 5.000% Senior Notes due 2054 5.1 Opinion of Gibson, Dunn & Crutcher LLP 5.2 Opinion of Hunton Andrews Kurth LLP 23.1 Consent of Gibson, Dunn & Crutcher LLP (included in Exhibit 5.1) 23.2 Consent of Hunton Andrews Kurth LLP (included in Exhibit 5.2) 104 Cover Page Interactive Data File. The cover page XBRL tags are embedded within the inline XBRL document (contained in Exhibit 101). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ATMOS ENERGY CORPORATION (Registrant) DATE: October 1, 2024 By: /s/ Daniel M. Meziere Daniel M. Meziere Vice President of Investor Relations and Treasurer