ONE Gas, Inc. indicated in a filing this week it just increased its borrowing ability from $1.275 billion to $1.350 billion with Bank of America and other banks.
The Oklahoma firm explained it entered into a lender joinder and commitment increase agreement related to its restated revolving credit agreement dated March 16, 2021. Bank of America is named as the administrative agent, swing line lender and letter of credit issuer while other lenders are also part of the agreement.
“The Increase Agreement increases the aggregate commitments available under the Credit Agreement from $1,275,000,000 to $1,350,000,000 and joins The Huntington National Bank as a lender under the Credit Agreement,” stated the ONE Gas filiing.
Some of the lenders under the Credit Agreement and their respective affiliates have, from time to time, performed, and may in the future perform, various financial advisory, commercial and investment banking services for the Company, for which they received or will receive customary fees and expenses.