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Actionable news in GAS: AGL RESOURCES Inc,

Entry Into a Material Definitive

AGL Capital Credit Agreement Amendment

On October 30, 2015, AGL Resources Inc., a Georgia corporation (AGL Resources), and its wholly-owned subsidiary, AGL Capital Corporation, a Nevada corporation (AGL Capital), entered into a Second Amendment and Extension Agreement (the AGL Capital Credit Agreement Amendment) with respect to the Amended and Restated Credit Agreement, dated as of November 10, 2011 (as amended, the AGL Capital Credit Agreement), by and among AGL Resources, as guarantor, AGL Capital, as borrower, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent.

The AGL Capital Credit Agreement Amendment amends the AGL Capital Credit Agreement to, among other things, (i) extend the maturity date of the AGL Capital Credit Agreement to N ovember 9, 2018, (ii) reduce the sub-facility for letters of credit to $100 million, (iii) provide for the limited consent by the lenders party to the AGL Capital Credit Agreement Amendment to the proposed merger (the Southern Company-AGL Merger) of AGL Resources with a wholly-owned subsidiary of The Southern Company, a Delaware corporation (Southern), and (iv) modify the event of default triggered by a change of control to provide for the Southern Company-AGL Merger, in each case subject to the terms and conditions of the AGL Capital Credit Agreement Amendment.

The foregoing description is a summary of the material terms of the AGL Capital Credit Agreement Amendment and the amendments and modifications to the AGL Capital Credit Agreement made pursuant thereto and is qualified in its entirety by reference to the AGL Capital Credit Agreement Amendment, which is filed herewith as Exhibit 10.1 and incorporated herein by reference.

Certain of the lenders under the AGL Capital Credit Agreement and their affiliates have provided and may continue to provide investment banking, commercial banking, financial services or other services to AGL Resources and its affiliates. For these services, AGL Resources or its affiliates paid, and in the future may pay, these lenders and their affiliates customary fees and commissions.

Nicor Gas Credit Agreement Amendment

On October 30, 2015, Northern Illinois Gas Company, an Illinois corporation (Nicor Gas) and a wholly-owned subsidiary of AGL Resources, entered into a Second Amendment and...


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