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NI > SEC Filings for NI > Form 8-K on 25-Aug-2014All Recent SEC Filings

Show all filings for NISOURCE INC/DE

Form 8-K for NISOURCE INC/DE


25-Aug-2014

Entry into a Material Definitive Agreement, Creation of a Direct Financial Obliga


ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On August 20, 2014, NiSource Finance Corp. ("NiSource Finance"), as borrower, and NiSource Inc. (the "Company"), as guarantor, entered into a $750 million Term Loan Agreement (the "Agreement") with the lenders party thereto, CoBank ACB, as Syndication Agent, and JPMorgan Chase Bank, N.A., as Administrative Agent, and J.P. Morgan Securities LLC and CoBank, ACB, as Joint Lead Arrangers and Joint Bookrunners. NiSource Finance borrowed the full $750 million on August 20, 2014. The term loan matures August 18, 2017 and bears interest at the option of the Company at:

a rate equal to (A) the Alternate Base Rate (which is a floating rate equal to the highest of (i) the prime rate of interest announced by the Administrative Agent from time to time, (ii) the Federal Funds Effective Rate in effect from time to time + 0.50% and (iii) one-month LIBO rate + 1.0%) plus (B) an applicable margin (which applicable margin is currently 0 basis points), or

a rate equal to (A) the 1, 2, 3 or 6-month LIBO rate plus (B) an applicable margin (which applicable margin is currently 100 basis points).

The Agreement includes one financial covenant, a maximum debt-to-capitalization covenant set at 70%, which is consistent with NiSource Finance's existing $2 billion Amended and Restated Revolving Credit Agreement and $325 million Amended and Restated Credit Agreement.



ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT

The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.


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