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Southwest Gas Holdings, Inc., et al. – ‘8-K’ for 11/29/22

On:  Thursday, 12/1/22, at 4:06pm ET   ·   For:  11/29/22   ·   Accession #:  1193125-22-296513   ·   File #s:  1-07850, 1-37976

Previous ‘8-K’:  ‘8-K’ on / for 11/9/22   ·   Next:  ‘8-K’ on 12/15/22 for 12/14/22   ·   Latest:  ‘8-K’ on / for 3/22/24   ·   3 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/01/22  Southwest Gas Holdings, Inc.      8-K:1,2,9  11/29/22   15:894K                                   Donnelley … Solutions/FA
          Southwest Gas Corp.

Current Report   —   Form 8-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     48K 
 2: EX-1.1      Underwriting Agreement or Conflict Minerals Report  HTML    198K 
 3: EX-4.1      Instrument Defining the Rights of Security Holders  HTML    329K 
 4: EX-5.1      Opinion of Counsel re: Legality                     HTML     19K 
10: R1          Cover                                               HTML     59K 
13: XML         IDEA XML File -- Filing Summary                      XML     14K 
11: XML         XBRL Instance -- d428629d8k_htm                      XML     24K 
12: EXCEL       IDEA Workbook of Financial Reports                  XLSX      8K 
 6: EX-101.CAL  XBRL Calculations -- swx-20221129_cal                XML      8K 
 7: EX-101.DEF  XBRL Definitions -- swx-20221129_def                 XML     45K 
 8: EX-101.LAB  XBRL Labels -- swx-20221129_lab                      XML     58K 
 9: EX-101.PRE  XBRL Presentations -- swx-20221129_pre               XML     45K 
 5: EX-101.SCH  XBRL Schema -- swx-20221129                          XSD     19K 
14: JSON        XBRL Instance as JSON Data -- MetaLinks               15±    22K 
15: ZIP         XBRL Zipped Folder -- 0001193125-22-296513-xbrl      Zip    146K 


‘8-K’   —   Current Report


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 iX: 
  Form 8-K  
 i false i false i 0001692115 i 0000092416 0001692115 2022-11-29 2022-11-29 0001692115 swx:SouthwestGasCorporationMember 2022-11-29 2022-11-29 0001692115 us-gaap:CommonStockMember 2022-11-29 2022-11-29 0001692115 swx:PreferredStockPurchaseRightsMember 2022-11-29 2022-11-29
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
Form
 i 8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)  i November 29, 2022
 
 
 
             
Commission
File Number
  
Exact name
 of
 registrant
 as
 specified
 in
 its
 charter
 and
principal office
 address
 and
 telephone
 number
  
State of Incorporation
  
I.R.S. Employer
Identification No.
  
 i Southwest Gas Holdings, Inc.
 i 8360 S. Durango Drive
 i Post Office Box 98510
 i Las Vegas,  i Nevada  i 89193
( i 702 i 876-7237
  
 i Delaware
  
 i 81-3881866
       
  
 i Southwest Gas Corporation
 i 8360 S. Durango Drive
 i Post Office Box 98510
 i Las Vegas,  i Nevada  i 89193
( i 702 i 876-7237
  
 i California
  
 i 88-0085720
 
 
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
 
 i 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
 i 
Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
 
 
 i 
Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
 
 
 i 
Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Southwest Gas Holdings, Inc:
 
         
(Title of class)
 
(Trading
symbol)
 
(Exchange on
which registered)
 i Southwest Gas Holdings, Inc. Common Stock, $1 par value
 
 i SWX
 
 i New York Stock Exchange
 i Preferred Stock Purchase Rights
 
 i N/A
 
 i New York Stock Exchange
Southwest Gas Corporation:
None.
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or
Rule12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter).
Emerging growth company  
 i 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐
 
 
 

Item 1.01. Entry into a Material Definitive Agreement.
Closing of Senior Notes Offering
On December 1, 2022, Southwest Gas Corporation (the “Company”), a wholly owned subsidiary of Southwest Gas Holdings, Inc. (the “Parent”), completed a public offering of $300 million aggregate principal amount of 5.800% Senior Notes due 2027 (the “Notes”) pursuant to an Underwriting Agreement, dated November 29, 2022, with BNY Mellon Capital Markets, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC as representatives of the underwriters named therein (the “Underwriting Agreement”). The Notes were registered under the Securities Act of 1933, as amended, pursuant to an effective shelf registration statement on Form
S-3
(File filed with the Securities and Exchange Commission on December 2, 2020. The Company received net proceeds from the sale of the Notes of approximately $296,538,000, after deducting underwriting discounts and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering to repay the outstanding amounts under the Company’s credit facility and the remainder for general corporate purposes.
The Notes were issued pursuant to an Indenture, dated as of June 4, 2020 (the “Base Indenture”), by and between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”) and a Fourth Supplemental Indenture, dated as of December 1, 2022, between the Company and the Trustee (the “Fourth Supplemental Indenture,” and together with the Base Indenture, the “Indenture”). The Indenture provides for customary events of default and includes certain covenants, including, but not limited to, restrictions on the Company’s ability to issue indebtedness for borrowed money secured by a lien and enter into certain sale and lease-back transactions.
The Notes bear interest at a fixed rate equal to 5.800% per year, payable semi-annually in arrears on June 1 and December 1 of each year beginning on June 1, 2023. The Notes are unsecured and unsubordinated obligations of the Company and are not guaranteed by the Parent. The Notes rank equal in right of payment with all existing and future senior unsecured debt of Southwest Gas Corporation and senior in right of payment to all existing and future subordinated debt of Southwest Gas Corporation. The Notes will mature on December 1, 2027. At any time prior to November 1, 2027 (the “Par Call Date”), the Company may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (1)(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a
360-day
year consisting of twelve
30-day
months) at the Treasury Rate plus 30 basis points, less (b) interest accrued to, but excluding, the date of redemption; and (2) 100% of the principal amount of the Notes then outstanding to be redeemed, plus, in either case, accrued and unpaid interest to, but excluding, the redemption date. On or after the Par Call Date, the Company may redeem the Notes in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date.
The foregoing descriptions of the Underwriting Agreement, the Indenture and the Notes do not purport to be complete and are qualified in their entirety by reference to the Underwriting Agreement, the Supplemental Indenture and the Notes, which are attached hereto as Exhibits 1.1, 4.1 and 4.2, respectively, and are incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation under an
Off-Balance
Sheet Arrangement of Registrant.
The disclosure set forth under Item 1.01 is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
 
Exhibit
Number
  
Description
1.1    Underwriting Agreement, dated November 29, 2022, by and among Southwest Gas Corporation and BNY Mellon Capital Markets, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC, as representatives of the underwriters named therein.
4.1    Fourth Supplemental Indenture, dated December 1, 2022, by and between Southwest Gas Corporation and The Bank of New York Mellon Trust Company, N.A., as Trustee.
4.2    Form of 5.800% Senior Note due 2027 (included in Exhibit 4.1)
5.1    Opinion of Morrison & Foerster LLP regarding the legality of the Notes
23.1    Consent of Morrison & Foerster LLP (included in Exhibit 5.1)
104    Cover Page formatted in Inline XBRL.

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
               SOUTHWEST GAS HOLDINGS, INC.
Date: December 1, 2022      
      Robert J. Stefani
      Senior Vice President/Chief Financial Officer
      SOUTHWEST GAS CORPORATION
Date: December 1, 2022      
      Robert J. Stefani
      Senior Vice President/Chief Financial Officer

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
12/1/27
11/1/27
6/1/23
Filed on:12/1/22
For Period end:11/29/22424B5,  FWP
12/2/20424B5,  8-K,  S-3ASR
6/4/204,  8-K
 List all Filings 


3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/28/24  Southwest Gas Holdings, Inc.      10-K       12/31/23  130:19M
11/28/23  Southwest Gas Holdings, Inc.      S-3ASR     11/28/23    9:729K                                   Donnelley … Solutions/FA
 2/28/23  Southwest Gas Holdings, Inc.      10-K       12/31/22  131:24M
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