The Williams Companies Inc., through its subsidiary Northwest Pipeline LLC, has entered into a new Credit Agreement with a group of lenders and PNC Bank, National Association, serving as administrative agent. Under the agreement, Northwest Pipeline borrowed $250 million in term loans effective December 1, 2025. The loan proceeds will be used to refinance existing 7.125% senior notes due the same day, as well as for working capital, acquisitions, capital expenditures, and general corporate purposes. The term loans mature three years from the effective date. The agreement includes covenants requiring the company to maintain a debt-to-capitalization ratio not exceeding 65%, and contains customary restrictions and events of default provisions. Interest rates on the borrowings will be determined based on the company's senior unsecured debt ratings.