Southwest Gas Prices $250 Mln Senior Notes Offering - Quick Facts

(RTTNews) - Southwest Gas Corp. (SWX) Tuesday priced a registered public offering of $250 million aggregate principal amount of its senior notes, due 2043. The notes will bear an interest rate of 4.875 percent per annum, payable semi-annually in arrears on April 1 and October 1 of each year.

The notes will mature on October 1, 2043. The offering is expected to close on October 4, 2013, subject to the satisfaction of customary closing conditions.

Net proceeds from the offering is expected to be approximately $180 million, and will be available for repaying debt under its revolving credit facility, which, as of September 24, was approximately $180 million. The remaining balance of the proceeds may be used for general corporate purposes.