Columbia pipeline group, inc. private company information – bloomberg gas and electric credit union

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Columbia Pipeline Group, Inc., together with its subsidiaries, owns, operates, and develops a portfolio of pipelines, storage, and related midstream assets. The company provides regulated gas transportation and storage services for LDCs, marketers, producers, and industrial and commercial customers located in northeastern, mid-Atlantic, Midwestern, and southern states and the District of Columbia; and midstream services, including gathering, treating, conditioning, processing, compression and liquids handling, and development of mineral rights positions. It owns approximately 15,000 miles of interstate gas pipelines extending from New York to the Gulf of Mexico with approximately 300 One mil…

Columbia Pipeline Group, Inc., together with its subsidiaries, owns, operates, and develops a portfolio of pipelines, storage, and related midstream assets. The company provides regulated gas transportation and storage services for LDCs, marketers, producers, and industrial and commercial customers located in northeastern, mid-Atlantic, Midwestern, and southern states and the District of Columbia; and midstream services, including gathering, treating, conditioning, processing, compression and liquids handling, and development of mineral rights positions. It owns approximately 15,000 miles of interstate gas pipelines extending from New York to the Gulf of Mexico with approximately 300 One million Dekatherms of working gas capacity, as well as related gathering and processing assets. The company is based in Houston, Texas. Columbia Pipeline Group, Inc. is a subsidiary of TransCanada PipeLine USA Ltd.

Columbia Pipeline Group, Inc., as borrower and TransCanada PipeLines Limited, as guarantor entered into a revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent, and the other financial institutions party thereto, which provides up to $1.0 billion in revolving credit commitments for the company. The guarantor is a guarantor of the obligations of the company under the credit facility. The initial maturity date under the credit facility is December 15, 2017, subject to an extension permitted under the credit facility. Amounts outstanding under the credit facility bear annual interest at a floating rate that is based, at the company’s option, on LIBOR plus a margin ranging from 0.75% to 1.25% or a base rate plus a margin ranging from 0.00% to 0.25%, in each case, depending upon the credit rating of the guarantor’s senior, unsecured, long-term debt. In addition, the company is obligated to pay a quarterly commitment fee equal to a rate per annum ranging from 0.04% to 0.15%, depending upon the index debt rating, and calculated daily based on the unused commitments during such previous quarter. The guarantor shall comply, and shall cause the company and each of the guarantor’s subsidiaries to comply, with a number of customary affirmative and negative covenants, including limitations with respect to liens, indebtedness, distributions, mergers, consolidations, and asset sales, among others. The guarantor shall not, and shall not permit any of its subsidiaries to, incur additional indebtedness (other than indebtedness maturing 24 months or less after such indebtedness is incurred) if immediately after incurring such indebtedness, the ratio of indebtedness of the guarantor and its subsidiaries (on a consolidated basis) to the total capitalization of the guarantor and its subsidiaries (on a consolidated basis) would be in excess of 0.75 to 1.00.