Texas Gas Transmission, LLC operates a long-haul interstate natural gas pipeline that moves natural gas from Gulf Coast and Fayetteville Shale supply areas to on-system markets in the Midwest and off-system markets in the Northeast via interconnections with third-party pipelines. The company’s pipeline originates in the Louisiana Gulf Coast area and in East Texas and runs north and east through Louisiana, Arkansas, Mississippi, Tennessee, Kentucky, and Indiana, as well as into Ohio with smaller diameter lines extending into Illinois. Its services include no-notice transportation, small general transportation, summer no-notice transportation, firm transportation, short term firm transportatio...
610 West 2nd Street
Owensboro, KY 42301
Founded in 1945
Boardwalk Pipeline Partners, LP, Boardwalk Pipelines, LP, Texas Gas Transmission, LLC, Gulf South Pipeline Company, LP and Gulf Crossing Pipeline Company LLC Announces Amendments to Third Amended and Restated Revolving Credit Agreement
May 26 15
Boardwalk Pipeline Partners, LP and certain of its wholly-owned subsidiaries entered into a Third Amended and Restated Revolving Credit Agreement among the Partnership, as guarantor, Boardwalk Pipelines, LP, Texas Gas Transmission, LLC, Gulf South Pipeline Company, LP and Gulf Crossing Pipeline Company LLC, as borrowers (the "Borrowers"), and the several lenders and issuers party thereto, Wells Fargo Bank, N.A., as administrative agent, Citibank, N.A. and JPMorgan Chase Bank, N.A., as co-syndication agents and the other agents identified therein. Under the Amended Credit Agreement, the Lenders will provide the Borrowers certain revolving loans, swingline loans and letters of credit to be used for general partnership purposes, including repayment of indebtedness, acquisitions, capital expenditures and payment of distributions, in an aggregate amount of up to $1.5 billion. Each Borrower is subject to a separate sublimit for borrowings under this facility. The Partnership has guaranteed the obligations of the Borrowers under the Amended Credit Agreement. Maturity. The Amended Credit Agreement has a maturity date of May 26, 2020. Prepayments. The Borrowers are allowed to prepay all loans under the credit facility at any time without premium or penalty (other than customary breakage costs). Interest. Interest is determined, at the Partnership's election, by reference to the base rate which is the prime rate, the federal funds rate plus 0.50%, and the one month Eurodollar Rate plus 1.0%, plus an applicable margin, or the London Interbank Offered Rate plus an applicable margin. The applicable margin ranges from 0.00% to 0.75% per annum for loans bearing interest based on the base rate and ranges from 1.00% to 1.75% per annum for loans bearing interest based on the LIBOR Rate, in each case determined based on the individual Borrower's credit rating from time to time. The Amended Credit Agreement also provides for a quarterly commitment fee charged on the average daily unused amount of the revolving credit facility ranging from 0.1% to 0.275% per annum, determined based on the individual Borrower's credit rating from time to time. Conditions. The Borrowers' ability to borrow amounts under the revolving credit facility will be subject to the execution of customary documentation relating to the facility, including satisfaction of certain customary conditions precedent and compliance with terms and conditions included in the loan documents, including a post-closing obligation which requires the Partnership to repay its borrowings under its existing term loan of $175.0 million and terminate all related commitments.
Texas Gas Transmission LLC Applies for 230,000 MMBtu/d Line to TVA's Proposed Gas-Fired Paradise Plant
Mar 10 15
Texas Gas Transmission LLC to build and operate a new 230,000 MMBtu/d natural gas pipeline lateral to serve a proposed Tennessee Valley Authority gas-fired, combined-cycle power plant near Paradise, Ky. Texas Gas asked FERC for the authorization for the Western Kentucky Lateral project in a March 4, 2015 abbreviated application. Because the approximately $81 million project would serve TVA's Paradise Fossil plant, with the full capacity of the lateral supported by a precedent agreement between Texas Gas and TVA for a primary term of 20 years, Texas Gas asked FERC to hit certain deadlines. Texas Gas said it would like FERC to grant it a certificate by December to allow it to begin full construction by January 2016 and to put the project in service in time to meet TVA's initial operation date for test gas service September 2, 2016. Texas Gas said it plans to build a 22.5-mile, 24-inch-diameter lateral, a meter and regulator station and related facilities. The lateral would connect Texas Gas' Midland 3 compressor station to a proposed interconnection with the Paradise plant, with both ends in Muhlenberg County, Ky. To minimize the project footprint, Texas Gas told FERC it plans to co-locate about 35% of the proposed pipeline within existing utility right of way. Construction of the project would affect about 356.4 acres. Ground disturbance would occur within the Texas Gas construction right of way, which is primarily within active agricultural areas. In addition to firm transportation service on the lateral, TVA has also acquired firm transportation capacity on the Texas Gas mainline.