Item 1.01. Entry into a Material Definitive Agreement.

Closing of Senior Notes Offering



On March 22, 2022, Southwest Gas Corporation (the "Company"), a wholly owned
subsidiary of Southwest Gas Holdings, Inc. (the "Parent"), completed a public
offering of $600 million aggregate principal amount of 4.05% Senior Notes due
2032 (the "Notes") pursuant to an Underwriting Agreement, dated March 17, 2022,
with KeyBanc Capital Markets Inc., MUFG Securities Americas Inc., TD Securities
(USA) LLC and U.S. Bancorp Investments, Inc., as representatives of the
underwriters named therein (the "Underwriting Agreement"). The Notes were
registered under the Securities Act of 1933, as amended, pursuant to an
effective shelf registration statement on Form
S-3
(File
No. 333-251074-01)
filed with the Securities and Exchange Commission on December 2, 2020. The
Company received net proceeds from the sale of the Notes of approximately
$592.7 million, after deducting underwriting discounts and estimated offering
expenses payable by the Company. The Company intends to use the net proceeds
from the offering to redeem the Company's outstanding 3.875% Senior Notes due
2022 in full, to repay the outstanding amounts under the Company's credit
facility and the remainder for general corporate purposes.

The Notes were issued pursuant to an Indenture, dated as of June 4, 2020 (the "Base Indenture"), by and between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (the "Trustee") and a Third Supplemental Indenture, dated as of March 22, 2022, between the Company and the Trustee (the "Third Supplemental Indenture," and together with the Base Indenture, the "Indenture"). The Indenture provides for customary events of default and includes certain covenants, including, but not limited to, restrictions on the Company's ability to issue indebtedness for borrowed money secured by a lien and enter into certain sale and lease-back transactions.



The Notes bear interest at a fixed rate equal to 4.05% per year, payable
semi-annually in arrears on March 15 and September 15 of each year beginning on
September 15, 2022. The Notes are unsecured and unsubordinated obligations of
the Company and are not guaranteed by the Parent. The Notes rank equal in right
of payment with all existing and future senior unsecured debt of Southwest Gas
Corporation and senior in right of payment to all existing and future
subordinated debt of Southwest Gas Corporation. The Notes will mature on
March 15, 2032. At any time prior to December 15, 2031 (the "Par Call Date"),
the Company may redeem the Notes, in whole or in part, at any time and from time
to time, at a redemption price (expressed as a percentage of principal amount
and rounded to three decimal places) equal to the greater of: (1)(a) the sum of
the present values of the remaining scheduled payments of principal and interest
thereon discounted to the redemption date (assuming the Notes matured on the Par
Call Date) on a semi-annual basis (assuming a
360-day
year consisting of twelve
30-day
months) at the Treasury Rate plus 30 basis points, less (b) interest accrued to,
but excluding, the date of redemption; and (2) 100% of the principal amount of
the Notes then outstanding to be redeemed, plus, in either case, accrued and
unpaid interest to, but excluding, the redemption date. On or after the Par Call
Date, the Company may redeem the Notes in whole or in part, at any time and from
time to time, at a redemption price equal to 100% of the principal amount of the
Notes to be redeemed, plus accrued and unpaid interest up to, but excluding, the
redemption date.

The foregoing descriptions of the Underwriting Agreement, the Indenture and the Notes do not purport to be complete and are qualified in their entirety by reference to the Underwriting Agreement, the Supplemental Indenture and the Notes, which are attached hereto as Exhibits 1.1, 4.1 and 4.2, respectively, and are incorporated herein by reference.

Entry into Amended Term Loan Agreement

On March 22, 2022, the Company entered into Amendment No. 1 to the Term Loan Agreement, dated as of March 23, 2021 (the "Term Loan Agreement" and as amended, the "Amended Term Loan Agreement"), with the lenders, book runners and syndication agents party thereto and The Bank of New York Mellon, as Administrative Agent. As of March 21, 2022, approximately $250 million in aggregate principal amount was outstanding under the term loan provided for under the Term Loan Agreement.

The Amended Term Loan Agreement, among other things, (1) extends the maturity date of the term loan to March 21, 2023 and (2) replaces London Interbank Offered Rate interest rate benchmarks with Secured Overnight Financing Rate interest rate benchmarks.

The foregoing description of the Amended Term Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the Amended Term Loan Agreement, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation under an


           Off-Balance
           Sheet Arrangement of Registrant.

The disclosure set forth under Item 1.01 is incorporated herein by reference.

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Item 9.01. Financial Statements and Exhibits.





(d) Exhibits



Exhibit
Number                                    Description

 1.1           Underwriting Agreement, dated March 17, 2022, by and among Southwest
             Gas Corporation and KeyBanc Capital Markets Inc., MUFG Securities
             Americas Inc., TD Securities (USA) LLC and U.S. Bancorp Investments,
             Inc., as representatives of the underwriters named therein.

 4.1           Third Supplemental Indenture, dated March 22, 2022, by and between
             Southwest Gas Corporation and The Bank of New York Mellon Trust
             Company, N.A., as Trustee.

 4.2           Form of 4.05% Senior Note due 2032 (included in Exhibit 4.1)

 5.1           Opinion of Morrison & Foerster LLP regarding the legality of the
             Notes

10.1           Amendment No. 1, dated as of March 22, 2022, to the Term Loan
             Agreement, dated as of March 23, 2021, by and among Southwest Gas
             Corporation, the lenders, book runners and syndication agents party
             thereto and The Bank of New York Mellon, as Administrative Agent.

23.1           Consent of Morrison & Foerster LLP (included in Exhibit 5.1)

104          Cover Page formatted in Inline XBRL.

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