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LONG-TERM DEBT
3 Months Ended
Mar. 31, 2017
Long-term Debt, Unclassified [Abstract]  
LONG-TERM DEBT
LONG-TERM DEBT:

In January 2017, SJG issued $200.0 million aggregate principal amount of Medium Term Notes (MTN's), Series E, 2017, due January 2047, with principal payments beginning in 2025. The MTN's bear interest at an annual rate of 3.0%, payable semiannually. Proceeds were used to pay down SJG's $200.0 million multiple-draw term facility which was set to expire in June 2017.
In January 2017, SJG entered into an unsecured, $200.0 million multiple-draw term loan credit agreement (Credit Agreement), which is syndicated among seven banks. Term loans under the Credit Agreement bear interest at a variable base rate or a variable LIBOR rate, at SJG's election. Under the Credit Agreement, SJG can borrow up to an aggregate of $200.0 million until July 2018, of which SJG borrowed $73.0 million during the three months ended March 31, 2017. All loans under the Credit Agreement become due in January 2019.
SJI and SJG did not issue or retire any other long-term debt during the three months ended March 31, 2017.