Oncor Electric Delivery signs $540 million term loan facility agreement

Chicago, June 29 – Oncor Electric Delivery Co. LLC signed a new $540 million term loan facility agreement with Sumitomo Mitsui Banking Corp. as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The term loan matures Aug. 15, 2022.

Borrowings may be made in up to four draws through Aug. 30. On the earlier of the fourth draw or Aug. 30, any unused commitments will terminate. Oncor has already made the first draw for $20 million.

Proceeds will be used for general corporate purposes.

Loan bear interest at Libor plus 60 basis points.

The term loan requires that Oncor maintain a consolidated senior debt to capitalization ratio of not greater than 0.65x.

Sumitomo Mitsui Banking Corp. and PNC Capital Markets LLC are joint lead arrangers.

Sumitomo Mitsui Banking is the bookrunner.

PNC Bank, NA is the syndication agent.

Oncor is an electric utility based in Dallas.

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