OMAHA, Nebraska – Tenaska Marketing Ventures/Tenaska Marketing Canada/Tenaska Gas Storage (collectively TMV) has completed the renewal of a $1 billion committed credit facility for a four-year term maturing in July 2014.
The facility, first established in 2006, will continue to be used to finance TMV’s natural gas inventory transactions and as liquidity support for TMV’s operations.
TMV is the natural gas marketing affiliate of Tenaska, one of the nation’s largest independent energy companies.
“We are very pleased to have renewed this facility on attractive terms, especially in a challenging banking environment,” said TMV senior vice president of finance, John Obermiller. “Tenaska’s strong reputation combined with the high quality of TMV’s operations and collateral led to a 50% oversubscription to the facility.”
BNP Paribas and Société Générale are co-lead arrangers of the facility. The Bank of Tokyo-Mitsubishi UFJ, Ltd., Rabobank Nederland, Natixis, and Credit Agricole CIB are co-documentation agents. A total of 20 lenders participate in the facility.
Source: Tenaska