H2O America
09/16/2025 | Press release | Distributed by Public on 09/16/2025 14:27
Material Agreement (Form 8-K)
Item 1.01 Entry into a Material Definitive Agreement
On September 12, 2025, H2O America (the "Company"), San Jose Water Company, a wholly-owned subsidiary of the Company ("SJWC"), and SJWTX, Inc. ("SJWTX"), The Connecticut Water Company ("CWC"), and The Maine Water Company ("MWC), each an indirect wholly-owned subsidiary of the Company (the Company, SJWC, SJWTX, CWC, and MWC, together, the "Borrowers"), entered into an Amendment and Restated Credit Agreement (the "Credit Agreement") with JPMorgan Chase Bank, N.A., as administrative agent and a lender, and Wells Fargo Bank, National Association, as administrative agent, and the other lenders party thereto. The Credit Agreement amends and restates the Credit Agreement, dated as of August 2, 2022, by and among the Company, SJWC, SJWTX, Connecticut Water Service, Inc., the lenders from time to time party hereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and Wells Fargo Bank, National Association, as Documentation Agent (the "Existing Credit Agreement"). The Credit Agreement reflects terms generally similar to the Existing Credit Agreement with the following updates:
•the Commitment (as defined in the Credit Agreement) is increased from $300 million to $350 million.
•the Maturity Date (as defined in the Credit Agreement) is extended from August 2, 2029 to September 12, 2030
•the Borrower sublimits are revised to the following amounts:
◦the Company: $50,000,000
◦SJWC: $165,000,000
◦SJWTX: $30,000,000
◦CWC: $80,000,000
◦MWC: $25,000,000
The description above is only a summary of the material provisions of the Credit Amendment and is qualified in its entirety by reference to the Credit Amendment, which is filed as Exhibit 10.1 hereto, and is incorporated herein by reference.
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