SUBSEQUENT EVENT

9 Months Ended

Jun. 30, 2011

Notes to Financial Statements [Abstract]

SUBSEQUENT EVENT

9. SUBSEQUENT EVENT

On July 18, 2011, Laclede Gas entered into a new syndicated line of credit of $300 million, which is scheduled to expire in July 2016. This replaced the previous $320 million line of credit that terminated on that same date, which was set to expire in December 2011. The largest portion provided by a single bank in the new line of credit is 17.9%. The line of credit supports the sale of commercial paper or can be used directly. Like the previous line of credit, the new line includes a covenant limiting total debt, including short-term debt, to no more than 70% of total capitalization. On June 30, 2011, total debt was 47% of capitalization. While the previous line required earnings before interest, taxes, depreciation and amortization (EBITDA) to be at least 2.25 times interest expense, the new line does not contain such provision.