Evergy Metro to repay revolver borrowings via new mortgage bonds

By Marisa Wong

Los Angeles, May 18 – Evergy Metro, Inc. is planning to repay a portion of the borrowings under its senior unsecured revolving credit facility using proceeds from an offering of series 2020 mortgage bonds, according to a 424B5 filing with the Securities and Exchange Commission.

As of a March 31, Evergy had about $460 million of borrowings outstanding under the revolver. The weighted average interest rate in effect was 1.96%.

Proceeds will also be used for general corporate purposes, including the potential redemption of a portion of the $146.5 million variable-rate tax-exempt environmental improvement revenue refunding bonds, series 2007A due Sept. 1, 2035 and series 2007B due Sept. 1, 2035, issued by the State Environmental Improvement and Energy Resources Authority of the State of Missouri.

Formerly Kansas City Power & Light Co., Evergy is an electric utility based in Kansas City, Mo.

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