Black Hills announced it amended and extended its $500 million, unsecured revolving credit facility used to fund working capital needs and for general corporate purposes. The amended facility has a five-year term expiring June 26, 2020, and can be increased to $750 million under certain conditions.

U.S. Bank is the administrative agent for the Black Hills revolving credit facility. U.S. Bank, The Bank of Nova Scotia and Union Bank are the co-lead arrangers and co-book runners.

The cost of borrowing under the new facility is based on the company’s credit rating and is unchanged at a spread of 112.5 basis points over LIBOR. Current borrowings under the amended facility are $98 million with an additional $23 million of letters of credit issued.

Rapid City, SD-based Black Hills is a vertically-integrated energy company.