Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Oncor Electric Delivery Co. LLC > News item |
Oncor Electric enters $450 million term loan credit agreement
By Taylor Fox
New York, March 22 – Oncor Electric Delivery Co. LLC entered into a term loan credit agreement providing a term loan of $450 million set to mature on May 17, 2022, according to an 8-K filing with the Securities and Exchange Commission.
Oncor may borrow up to the full amount of the loan facility in up to four borrowings, which may be made, at Oncor’s option, at any time before June 4.
Upon the earlier to occur of the fourth borrowing under the term loan agreement and June 4, any unused commitments will terminate.
Loans bear interest at Libor plus 65 basis points.
The term loan agreement requires that Oncor maintain a consolidated senior debt to capitalization ratio of no greater than 0.65 to 1.
Wells Fargo Bank, NA is the administrative agent.
Oncor is an electric utility based in Dallas.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.