Oncor Electric extends $2 billion revolver to 2023, ups pricing

By Wendy Van Sickle

Columbus, Ohio, Nov. 5 – Oncor Electric Delivery Co. LLC entered into an amendment on Monday to its $2 billion revolving credit agreement, extending the commitments by a year to Nov. 17, 2023, according to an 8-K filed with the Securities and Exchange Commission.

The amendment also gives Oncor the option to extend the commitments for two additional one-year periods.

Borrowings bear interest at Libor plus a margin ranging from 112.5 basis points to 175 bps, depending on Oncor’s credit ratings. The initial margin is 125 bps.

Prior to the amendment, the margin above Libor ranged from 87.5 bps to 150 bps.

JPMorgan Chase Bank, NA is the administrative agent.

Proceeds may be used for general corporate purposes.

The electric company is based in Dallas.

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