Liberty Utilities Co is APUC’s regulated distribution utility business.
Initially, $25m will be available immediately to support the operations of Liberty Utilities and its current subsidiaries.
The additional $55m will be available to Liberty Utilities to support operations of all committed regulated utility acquisitions.
APUC will first close the previously announced acquisition of the electricity distribution utility, Granite State Electric Company, and the natural gas distribution utility, EnergyNorth Natural Gas.
The lead arranger and sole bookrunner for the facility is J.P. Morgan Securities.
APUC CFO David Bronicheski said the Liberty Utilities credit facility forms an integral part of our capital structure going forward.
"The Facility provides Liberty Utilities with the liquidity and financial flexibility that is needed as we continue to expand our utilities business into New Hampshire, Iowa, Illinois and Missouri, and in the future in other new markets within North America," added Bronicheski.
