British Columbia Utilities Commission

On November 27, 2017, Pacific Northern Gas (N.E.) Ltd. [PNG(N.E.)] applied for British Columbia Utilities Commission (Commission) approval (Application) under section 50 of the Utilities Commission Act (UCA);
i. to issue a $33,000,000 fully drawn, non-amortizing ten year term note to its parent company, Pacific Northern Gas Ltd. (PNG) on the terms and conditions set forth in the Application (10-Year Note);
ii. to enter into a five-year term revolving credit facility with PNG in the principal amount of $24,750,000 (PNG Revolving Credit Facility) on the terms and conditions set forth in the Application; and
iii. jointly with PNG to amend the existing credit agreement between PNG and PNG(N.E.) as borrowers and the Bank of Montreal (BMO) as lender (Credit Agreement), as approved by Order G-160-16A, under which BMO has provided an operating line and treasury/commodity hedge line to PNG and PNG(N.E.), to extend the term of the operating line by an additional 18 months and amend the financial terms of the existing credit facilities under the Credit Agreement, as detailed in the Application, and to incur indebtedness under the existing credit facilities pursuant to the amended and extended Credit Agreement from time to time, and to restate the guarantee by PNG(N.E.) of the obligations of PNG under the existing credit facilities pursuant to the Credit Agreement;