FARMINGTON HILLS, Mich., June 25 /PRNewswire-FirstCall/ --
SEMCO ENERGY, Inc. (NYSE: SEN) today announced the successful closing of $145
million of syndicated credit facilities led by Standard Federal Bank, N.A.
The Senior Unsecured Credit Facilities will be used to fund SEMCO's short-term
cash requirements replacing $145 million of current bilateral lines which
expire later this month. The Facilities consist of an $80 million three-year
revolver and a $65 million 364-day facility, with a one-year term loan option.
John Schneider, Senior Vice President and Chief Financial Officer, in
announcing the Facilities said, "We are very pleased with the positive
response received from the banking community in committing to these Facilities
and the fine group of participating banks. These Facilities provide committed
credit at competitive fees and pricing. The Facilities also provide the
flexibility needed to manage SEMCO's short-term cash requirements in its
growing gas distribution and underground gas facility construction
SEMCO ENERGY, Inc. is a diversified energy and infrastructure company that
distributes natural gas to more than 374,000 customers in Michigan and Alaska.
It also owns and operates businesses involved in natural gas pipeline
construction services, propane distribution, intrastate pipelines and natural
gas storage in various regions of the United States. In addition, it provides
information technology and outsourcing services, specializing in the mid-range
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Web site: http: //www.semcoenergy.com
CONTACT: Analysts Contact: Thomas Connelly, Director of Investor Relations, +1-248-702-6000, ext. 6240, or Media Contact: Francis R. Lieder, +1-810-987-2200, ext. 4186, fax: +1-810-989-4098, E-mail: email@example.com , both of SEMCO ENERGY, Inc.