01—Abstract
Summary
Summary of the 8-K filed December 11, 2025. Cited figures are marked; the original filing is the authoritative source.
NiSource Inc. (NI) entered into a Seventh Amended and Restated Revolving Credit Agreement dated December 11, 2025, with Barclays Bank PLC as Administrative Agent and a group of co-agents and joint lead arrangers.
The agreement amends and restates in its entirety the Sixth Amended and Restated Revolving Credit Agreement dated February 18, 2022, as amended August 23, 2023. The principal change is a larger and longer-dated credit facility. The facility increases by $650 million to $2.5 billiona, and the termination date extends from February 18, 2027 to December 11, 2030.
The sublimit for standby letters of credit rises by $25 million to $175 millionb. The company also raised certain dollar and materiality thresholds covering permitted liens, cross-defaults and the definition of Material Subsidiary.
The agreement also eliminates provisions that would have tied adjustments to the Applicable Rate to specified environmental, social and governance key performance indicators. Apart from these changes, the filing states that the agreement substantially restates the existing credit agreement, including its representations, warranties, financial and other covenants, and events of default.
02—Key points
Key Highlights
- Revolving credit facility increased by $650 million to $2.5 billion
- Facility termination date extended from February 18, 2027 to December 11, 2030
- Standby letter of credit sublimit increased by $25 million to $175 million
- Permitted liens, cross-default and Material Subsidiary thresholds raised
- ESG-linked key performance indicators that could adjust the Applicable Rate eliminated
- Barclays Bank PLC serves as Administrative Agent, with JPMorgan Chase, MUFG, Wells Fargo, Bank of America, Bank of Montreal and Mizuho as syndicate participants
- Filed under Items 1.01 and 2.03 with the full agreement attached as Exhibit 10.1
03—Questions
Frequently Asked Questions
How much liquidity does the revolving credit facility provide after this amendment?
The facility now totals $2.5 billion, an increase of $650 million from the prior size under the Existing Credit Agreement.
When does the revolving credit facility now mature?
The termination date is December 11, 2030, extended from February 18, 2027 under the prior agreement.
Does the amendment change the pricing of the credit facility based on sustainability targets?
The filing states that the agreement eliminates provisions that could have adjusted the Applicable Rate based on specified environmental, social and governance key performance indicators.
Are there other significant changes to the credit terms?
Beyond the facility size, maturity, letter of credit sublimit and ESG-linked provisions, the filing states the agreement substantially restates the existing terms, including representations, warranties, financial and other covenants, and events of default.
04—Continue