Evergy extends $2.5 billion credit facility one year, updates to SOFR

Chicago, June 2 – Evergy, Inc., Evergy Missouri West, Inc., Evergy Metro and Evergy Kansas Central updated their $2.5 billion credit agreement with a first amendment on June 2, according to an 8-K filing with the Securities and Exchange Commission.

The amendment extends the facility one year, to Aug. 31, 2027, and resets the number of available maturity extension requests to two.

Additionally, interest will now be based on SOFR and a 10 basis points credit spread adjustment. The applicable margin, based on debt ratings, varies between 75 bps and 175 bps.

The commitment fee rate is between 5 bps and 27.5 bps.

All other material terms and conditions of the credit facility were unchanged.

Wells Fargo Bank, NA is the administrative agent, swingline lender and issuing lender.

Bank of America, NA, Citibank, NA, MUFG Bank, Ltd., TD Bank, NA and U.S. Bank NA are the co-syndication agents.

Wells Fargo Securities, LLC is the sustainability structuring agent.

The joint lead arrangers and joint bookrunners are Wells Fargo Securities, LLC, Citigroup Global Markets Inc., BofA Securities, Inc., MUFG Bank, Ltd., TD Securities (USA) LLC and U.S. Bank NA.

Evergy is an electric utility based in Kansas City, Mo.

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