Company Overview of Nisource Finance Corp.
NiSource Finance Corp., a wholly owned special purpose finance subsidiary of NiSource, Inc. (NiSource), engages in the financing activities to raise funds for the business operations of NiSource and its subsidiaries. NiSource, a regional energy holding company, provides natural gas, electricity, and other products and services to the customers located within the energy corridor that runs from the Gulf Coast through the Midwest to New England. Nisource Finance Corp. operates as a subsidiary of NiSource Inc.
801 East 86th Avenue
Merrillville, IN 46410
Founded in 2000
Key Executives for Nisource Finance Corp.
Principal Executive Officer
Principal Accounting Officer and Vice President
Compensation as of Fiscal Year 2014.
Nisource Finance Corp. Key Developments
NiSource Finance Corp. Enters into $750 Million Term Loan Agreement
Aug 25 14
On august 20, 2014, NiSource finance corp., as borrower, and NiSource inc., as guarantor, entered into a $750 million term loan 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 book runners. 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 the alternate base rate (which is a floating rate equal to the highest of the prime rate of interest announced by the administrative agent from time to time, the federal funds effective rate in effect from time to time + 0.50% and one-month libo rate + 1.0%) plus an applicable margin (which applicable margin is currently 0 basis points), or a rate equal to 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.
Nisource Finance Corp. Sells $500 Million 5.65% Long-Term Notes Due 2045
Oct 10 13
NiSource Finance Corp. has completed the sale of $500 million of 5.65% notes due in Feb. 1, 2045. The company will use net proceeds to repay short-term borrowings under its commercial paper program and for general corporate purposes.
Nisource Finance Corp. Announces Amended and Restated Revolving Credit Agreement
Oct 1 13
On September 30, 2013, NiSource Finance Corp. as borrower, and NiSource Inc. as guarantor, entered into an Amended and Restated Revolving Credit Agreement with the lenders party thereto, Barclays Bank PLC, as Administrative Agent, Credit Suisse Securities (USA) LLC, as Syndication Agent, The Bank of Tokyo-Mitsubishi UFJ Ltd., Citibank, N.A. and JPMorgan Chase Bank, N.A., as Co-Documentation Agents, and Barclays Bank PLC, Credit Suisse Securities (USA) LLC, The Bank of Tokyo-Mitsubishi UFJ Ltd., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, as Joint Lead Arrangers and Joint Bookrunners. The Agreement amends NiSource Finance's existing $1.5 billion Revolving Credit Agreement to increase the facility by $500 million to $2.0 billion and to extend the term by approximately sixteen months, from May 15, 2017 until September 28, 2018. The Agreement provides that revolving loans will bear interest at the option of the company at: a rate equal to the Alternate Base Rate (which is a floating rate equal to the higher of the prime rate of interest announced by the Administrative Agent from time to time, the Federal Funds Rate in effect from time to time + 0.50% and one-month LIBO rate + 1.0%) plus an applicable margin (which applicable margin is currently 47.5 basis points), or a rate equal to the 1, 2, 3 or 6-month LIBO rate plus an applicable margin (which applicable margin is currently 147.5 basis points).
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