NW Natural Secures $300M Credit Facility

TL;DR

NW Natural just inked a new $300M credit line, replacing their old $250M one. Good for flexibility.

AI Summary

On December 19, 2024, Northwest Natural Holding Company entered into a new credit agreement for a $300 million revolving credit facility. This facility matures on December 19, 2029, and replaces their previous $250 million credit facility. The company intends to use borrowings under the new facility for general corporate purposes, including working capital and capital expenditures.

Why It Matters

This new, larger credit facility provides Northwest Natural Holding Company with enhanced financial flexibility for its ongoing operations and future investments.

Risk Assessment

Risk Level: low — This filing pertains to a routine credit facility agreement, which is a standard financial tool for companies.

Key Numbers

• $300M — New Credit Facility (Increased borrowing capacity)
• $250M — Previous Credit Facility (Replaced facility)

Key Players & Entities

• Northwest Natural Holding Company (company) — Registrant
• $300 million (dollar_amount) — New revolving credit facility amount
• $250 million (dollar_amount) — Previous revolving credit facility amount
• December 19, 2024 (date) — Date of credit agreement
• December 19, 2029 (date) — Maturity date of new credit facility

FAQ

Key Financial Figures

• $90,000,000 — mpany (NW Holdings) issued and sold (i) $90,000,000 in aggregate principal amount of its 5.
• $45,000,000 — er 19, 2029 (the 5.52% Notes), and (ii) $45,000,000 in aggregate principal amount of its 5.

Filing Documents

• nwn-20241219.htm (8-K) — 26KB
• nwn-20241219_g1.jpg (GRAPHIC) — 6KB
• 0001733998-24-000139.txt ( ) — 164KB
• nwn-20241219.xsd (EX-101.SCH) — 2KB
• nwn-20241219_lab.xml (EX-101.LAB) — 22KB
• nwn-20241219_pre.xml (EX-101.PRE) — 13KB
• nwn-20241219_htm.xml (XML) — 3KB

From the Filing

nwn-20241219 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 19, 2024 NORTHWEST NATURAL HOLDING COMPANY (Exact name of registrant as specified in its charter) Commission file number 1-38681 Oregon 82-4710680 (State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.) 250 S.W. Taylor Street , Portland , Oregon 97204 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (503) 226-4211 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Registrant Title of each class Trading Symbol Name of each exchange on which registered Northwest Natural Holding Company Common Stock NWN New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On December 19, 2024, Northwest Natural Holding Company (NW Holdings) issued and sold (i) $90,000,000 in aggregate principal amount of its 5.52% Senior Notes, Series C, due December 19, 2029 (the 5.52% Notes), and (ii) $45,000,000 in aggregate principal amount of its 5.86% Senior Notes, Series D, due December 19, 2034 (the 5.86% Notes, together with the 5.52% Notes, the Notes), to certain institutional investors pursuant to a Note Purchase Agreement dated December 19, 2024 (the Note Purchase Agreement), in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended. The 5.52% Notes and the 5.86% Notes bear interest at the rate of 5.52% and 5.86%, respectively, per annum, payable semi-annually on June 19 and December 19 of each year, commencing June 19, 2025, and will mature on December 19, 2029, and December 19, 2034, respectively. The 5.52% Notes and the 5.86% Notes will be subject to prepayment at the option of NW Holdings, in whole or in part, (i) at any time at a price equal to 100% of the principal amount thereof, plus the applicable "make-whole" premium and accrued and unpaid interest thereon to the date of prepayment, and (ii) at any time on or after November 19, 2029 and September 19, 2034, respectively, at 100% of the principal amount thereof, plus accrued and unpaid interest thereon to the date of prepayment, but without the payment of a "make-whole" premium, in each case, so long as there is no Default or Event of Default under the Note Purchase Agreement. 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. NORTHWEST NATURAL HOLDING COMPANY (Registrant) Dated: December 19, 2024 /s/ Shawn M. Filippi Vice President, Chief Compliance Officer & Corporate Secretary