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New Jersey Resources secures 4-month $100M revolver

New Jersey Resources Corp. began a four-month revolving line of credit providing for $100 million in borrowings.

The revolver with PNC Bank NA is set to terminate April 18, 2019. It may also be prepaid anytime without premium or penalty and allows for advances in amounts of at least $1 million and in $500,000 increments above that level, according to a Dec. 21 SEC filing.

New Jersey Resources provides natural gas services, including transportation and distribution, with its principal subsidiary New Jersey Natural Gas Co. serving over 525,000 gas utility customers in five counties in the state.