MDU RESOURCES GROUP INC 8-K

What Happened

• On January 15, 2026, WBI Energy Transmission, Inc., an indirect subsidiary of MDU Resources Group, entered into Amendment No. 1 to its Second Amended and Restated Note Purchase and Private Shelf Agreement with PGIM, Inc. (Prudential) and other purchasers. The amendment extends WBI’s ability to issue senior unsecured “Shelf Notes” through December 22, 2028 and preserves an aggregate issuance capacity of up to $350 million. WBI has previously issued $235 million under the shelf, leaving $115 million available as of the filing. Proceeds from any future issuance are intended for general corporate purposes, including funding WBI-related capital expenditures.

Key Details

• Date of amendment/entry: January 15, 2026 (Amendment dated January 14, 2026 in exhibits).
• Total shelf capacity: up to $350 million in senior unsecured notes; $235 million previously issued → $115 million remaining.
• Extension: issuance rights extended through December 22, 2028 (unless terminated by a party).
• Terms: principal and interest rates for any series set at issuance; agreement contains customary affirmative/negative covenants and events of default (limits on indebtedness, liens, related-party transactions, dispositions, bankruptcy triggers, etc.).

Why It Matters

• This amendment preserves WBI/MDU’s ability to raise additional unsecured debt to fund capital spending and other corporate needs without immediately issuing new securities. That flexibility can help finance WBI’s planned projects while giving Prudential the option to purchase notes in future issuances.
• There is no immediate issuance announced, so no immediate change to MDU’s balance sheet; however, future issuances would increase consolidated debt and could affect leverage and interest expense. Investors should watch for any follow-on note offerings, the terms (rates), and how proceeds are used.