Consolidated Edison closes $400 million 364-day senior term loan

By Marisa Wong

Los Angeles, June 30 – Consolidated Edison, Inc. entered into a 364-day senior unsecured term loan credit agreement on June 30 with Barclays Bank plc as lead arranger, bookrunner and administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

At closing, the company borrowed $400 million under the credit agreement, proceeds of which were used for general corporate purposes.

Under the credit agreement, the lender is committed until Nov. 30 to provide one or more tranches of incremental term loans in an aggregate amount not to exceed $200 million, in addition to the $400 million borrowed at closing.

Borrowings bear interest at adjusted term SOFR plus 75 basis points.

The energy company is based in New York.

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