Oglethorpe plans $60 million increase to a credit facility in October

By Aleesia Forni

Columbus, Ohio, Aug. 25 - Oglethorpe Power Corp. expects to increase one of its unsecured credit facilities to $110 million from $50 million in October, according to the company's second quarter 2011 earnings conference call.

The company has borrowed $526 million of its $1.8 billion total credit facilities as of Aug. 25.

The company reported cash and cash equivalents of $417.9 million, compared to $672 million in the previous year's second quarter.

The company also reported total long-term debt and equities of $6.2 billion.

As of Aug. 25, the company reported a total liquidity of $1.9 billion.

The company is currently working to finalize loan guarantees for the fourth quarter of fiscal 2011, though funding is not expected until 2012.

Oglethorpe is a Tucker, Ga.-based electric supply cooperative.

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