Black Hills Corp Enters Material Definitive Agreement

TL;DR

BKH signs new deal, watch for financial implications.

AI Summary

On May 31, 2024, Black Hills Corporation entered into a material definitive agreement related to a direct financial obligation. The company, incorporated in South Dakota, filed an 8-K report detailing this event. The filing was made on June 5, 2024, and pertains to obligations under an off-balance sheet arrangement.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Black Hills Corporation, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new material definitive agreements and financial obligations can introduce financial risks and uncertainties for a company.

Key Numbers

• 001-31303 — SEC File Number (Identifies Black Hills Corporation's filing with the SEC.)
• 46-0458824 — IRS Employer Identification No. (Tax identification number for Black Hills Corporation.)

Key Players & Entities

• Black Hills Corporation (company) — Registrant
• South Dakota (location) — State of Incorporation
• May 31, 2024 (date) — Date of earliest event reported
• June 5, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $1.00 — e on which registered Common stock of $1.00 par value BKH The New York Stock Ex
• $750 million — e Company to increase availability from $750 million to up to $1 billion with the consent of
• $1 billion — availability from $750 million to up to $1 billion with the consent of the administrative
• $3.5 million — borrowings outstanding, and there were $3.5 million of letters of credit issued, under the

Filing Documents

• bkh-20240531.htm (8-K) — 40KB
• bkh-ex10_1.htm (EX-10.1) — 1165KB
• 0000950170-24-069365.txt ( ) — 1477KB
• bkh-20240531.xsd (EX-101.SCH) — 23KB
• bkh-20240531_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On May 31, 2024, the Company entered into a Second Amendment to Fourth Amended and Restated Credit Agreement, among Black Hills Corporation, as Borrower, the financial institutions party thereto, as Banks, and U.S. Bank National Association, as Administrative Agent (the "Amended Revolver"). The Amended Revolver extends the term from July 19, 2026 to May 31, 2029, with two one-year extension options (subject to consent from the lenders). The Amended Revolver retains an accordion feature that allows the Company to increase availability from $750 million to up to $1 billion with the consent of the administrative agent, the issuing agents and each bank increasing or providing a new commitment. Otherwise, the Amended Revolver is on terms that are similar, in all material respects, to the terms of the revolving credit agreement that it amends. As of May 31, 2024, there were no borrowings outstanding, and there were $3.5 million of letters of credit issued, under the Amended Revolver. The Amended Revolver is filed as Exhibit 10.1 to this Form 8-K. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits The following exhibits are furnished or filed herewith: Number Exhibit 10.1 Second Amendment to Fourth Amended and Restated Credit Agreement dated as of May 31, 2024 (relating to $750 million Revolving Credit Facility), among Black Hills Corporation, as Borrower, the financial institutions party there, as Banks, and U.S. Bank, National Association, as Administrative Agent. 104.1 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES 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. BLACK HILLS CORPORATION Date: June 5, 2024 By: /s/ Kimberly F. Nooney Kimberly F. Nooney Senior Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR