OMAHA, Nebraska – Tenaska, one of the nation’s largest private, independent energy companies, announced Wednesday that it has completed the renewal of a $1.5 billion borrowing base, committed credit facility for a four-year term maturing in March 2022.
The credit facility, first established in 2006, will continue to be used to finance natural gas inventory transactions and provide essential liquidity support for Tenaska’s natural gas marketing affiliates, Tenaska Marketing Ventures, Tenaska Marketing Canada, Tenaska Gas de México and Tenaska Gas Storage.
“We are very pleased to have once again renewed this facility with overwhelming support from the banking community,” said John Obermiller, executive vice president and CFO of Tenaska Marketing Group. “Renewing this transaction gives us the financial flexibility to continue expanding our business in the U.S., Canada and Mexico while providing the high-quality service our customers expect.”
BNP Paribas, SG Americas, MUFG, Coöperatieve Rabobank and Natixis are joint lead arrangers of the facility. ING Bank and ABN Amro Capital are senior managing agents. A total of 17 lenders participate in the facility.
Tenaska is consistently ranked by Platts Gas Daily among the top five natural gas marketers in North America, with 9.5 billion cubic feet per day of natural gas sold or managed in 2017, a volume equal to roughly 10 percent of total U.S./Canadian natural gas consumption. CapacityCenter.com has ranked Tenaska as the largest capacity release trader in the United States for nine years in a row.
Tenaska, headquartered in Omaha, Nebraska, is one of the leading independent power producers in the United States. Forbes magazine ranks Tenaska among the largest privately held U.S. companies. Affiliate Tenaska Marketing Ventures / Tenaska Marketing Canada / Tenaska Gas de México / Tenaska Gas Storage (collectively TMV) is ranked by Platts Gas Daily among the top five natural gas marketers in North America. TMV offers tailored solutions to meet wholesale customers’ needs for natural gas buying and selling, price hedging, asset management and supply and demand volume swing management. For more information, visit www.tmvdelivers.com.