Tenaska Marketing Ventures (TMV), the natural gas marketing affiliate of Tenaska, a private energy company, completed a renewal and increase of its committed borrowing base facility that provides up to $2 billion for a four-year term maturing in March 2026.
The credit facility, first established in 2006, will continue to be used to finance natural gas inventory transactions and provide essential liquidity support for TMV and its affiliates, Tenaska Marketing Canada and Tenaska Gas Storage.
“The strong showing of support from the banking community is a testament to Tenaska’s 35-year history of financial strength and TMV’s reputation of high-quality customer service and results,” John Obermiller, executive vice president and CFO of TMV, said. “Financial flexibility and access to liquidity will allow us to continue to grow our business in the U.S. and Canada well into the future.”
BNP Paribas, Coöperatieve Rabobank, MUFG Bank, Société Générale, ING Capital and Wells Fargo Bank are joint lead arrangers and joint bookrunners of the facility. CoBank, ACB, Industrial and Commercial Bank of China, Mizuho Bank and Sumitomo Mitsui Banking Corporation are senior managing agents. A total of 16 lenders are participating in the facility, of which three are new lenders.