Consolidated Edison obtains $750 million 364-day revolver

By Wendy Van Sickle

Columbus, Ohio, March 31 – Consolidated Edison, Inc. entered into a $750 million credit agreement on Thursday with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The 364-day revolving commitment will terminate on March 30, 2023.

Borrowings will bear interest at term SOFR plus a margin ranging from 82.5 basis points to 150 bps.

Proceeds may be used to support the company’s commercial paper program and for general corporate purposes.

BofA Securities, Inc., JPMorgan Chase Bank, NA, Citibank, NA, Mizuho Bank, Ltd., Barclays Bank plc and Wells Fargo Securities, LLC are the lead arrangers and bookrunners.

The energy company is based in New York.

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