NEW JERSEY RESOURCES CORP (NJR) Form 8-K — Oct 23, 2026
New Jersey Natural Gas Company, a wholly-owned subsidiary of New Jersey Resources, issued and sold $50,000,000 of 5.43% Senior Notes, Series 2026C, due October 22, 2036, to institutional investors on October 22, 2026. The Notes were issued under a Note Purchase Agreement dated August 20, 2026 and are secured by an equal principal amount of NJNG's First Mortgage Bonds (Series WWW due 2036) under the Nineteenth Supplemental Indenture with U.S. Bank Trust Company as trustee. Proceeds will be used for general corporate purposes, including refinancing or retiring short-term debt and funding capital expenditures.
Key figures
- Debt Amount
- 50000000
- Interest Rate
- 5.43
- Maturity Date
- October 22, 2036
- Secured By
- First Mortgage Bonds, Series WWW due 2036, under Nineteenth Supplemental Indenture
- Note Series
- 5.43% Senior Notes, Series 2026C
- Default Rate
- greater of 7.43% per annum or 2.00% over PNC Bank prime rate
- Prepayment Minimum
- $1,000,000 aggregate principal for partial prepayment, at 100% plus make-whole
- Interest Payment Dates
- April 22 and October 22, beginning April 22, 2027
AI analysis
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