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Black Hills extends maturity of $750M credit facility, $300M term loan

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Black Hills extends maturity of $750M credit facility, $300M term loan

Black Hills Corp. has extended the maturity dates of its $750 million revolving credit facility and $300 million term loan, according to a July 30 company news release.

The revolving credit facility's term was extended through July 30, 2023, with two one-year extension options, while the term loan's maturity was extended through July 30, 2020. The facility retains an accordion feature that allows the company to increase the total commitment up to $1 billion under certain conditions.

"The credit facility and term loan enable us to effectively manage our liquidity needs and growth initiatives through flexible and low-cost funding," said Richard Kinzley, senior vice president and CFO of Black Hills.

U.S. Bank NA is the administrative agent and JPMorgan Chase Bank NA is the syndication agent for the Black Hills' revolving credit facility. For the term loan, JPMorgan Chase Bank NA is the administrative agent and U.S. Bank NA is the syndication agent.