DT Midstream Amends Credit Agreement to Permit Bridge Loans

DT Midstream, Inc. (NYSE:DTM) announced on November 25, 2024, that it has entered into an Amendment No. 3 to its Credit Agreement. The Amendment, which modifies certain terms of the Credit Agreement dated June 10, 2021, permits the company to incur bridge loans, including a $700 million 364-day bridge loan facility provided by Barclays Bank PLC.

This Amendment allows DT Midstream to access backstop funding for the acquisition of all equity interests in Guardian Pipeline, L.L.C., Midwestern Gas Transmission Company, and Viking Gas Transmission Company. As of the date of the report, the outstanding commitments under the Bridge Facility amount to $293.7 million.

The specifics of the Amendment can be found in Exhibit 10.1 attached to the Current Report on Form 8-K filed by DT Midstream with the Securities and Exchange Commission. This Amendment to the Credit Agreement is aimed at strengthening the financial position of the company and supporting its strategic initiatives.

DT Midstream also indicated that the full text of the Amendment is available for reference in the filed Exhibit, providing investors and stakeholders with detailed information on the modifications made to the debt covenant.

As outlined in the report, no additional material events or transactions were reported other than the Amendment to the Credit Agreement. The company’s principal executive offices are located in Detroit, Michigan. For further details and insights, interested parties can refer to the original SEC filing on DT Midstream’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read DT Midstream’s 8K filing here.

DT Midstream Company Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.