New Jersey Resources Corporation entered into a four-month $75 million revolving line of credit facility with PNC Bank. The revolver is scheduled to terminate on April 14, 2018.

The revolver may be prepaid at any time without premium or penalty other than normal LIBOR break funding costs. Proceeds of the revolver will be used for working capital or other general business purposes of NJR.

Borrowings under the revolver bear interest, at NJR’s option: on the day of the proposed advance, at the base rate option (as defined in the revolver) and three business days prior to the proposed advance, at the LIBOR option (as defined in the revolver) or daily LIBOR option (as defined in the revolver).

Advances may be requested in amounts of at least $1 million and in $500,000 increments above such minimum.

The commitment fees rate for the unused portion of the revolver may range from 0.075% to 0.200%, depending on NJR’s credit rating as determined in a manner consistent with the credit agreement dated September 28, 2015 with PNC Bank, as administrative agent.