El Paso Electric to repay borrowings with funds from new notes

By Marisa Wong

Madison, Wis., Dec. 2 – El Paso Electric Co. intends to repay outstanding short-term borrowings under its second amended and restated credit agreement dated Jan. 14, 2014 using proceeds from an offering of senior notes, according to an 8-K filing with the Securities and Exchange Commission.

The borrowings to be repaid were used for working capital purposes.

Proceeds from the notes offering will also be used for general corporate purposes.

The electric utility is based in El Paso.

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