Oncor Electric draws remaining $520 million available under term loan

By Marisa Wong

Los Angeles, Aug. 2 – Oncor Electric Delivery Co. LLC borrowed on July 28 the remaining $520 million available under its term loan credit agreement dated June 25, according to an 8-K filed Monday with the Securities and Exchange Commission.

As previously disclosed, the up to $540 million term loan could be borrowed through up to four borrowings before Aug. 30. Oncor borrowed the initial $20 million in June.

No additional amounts remain available for borrowing.

Oncor intends to use the proceeds for general corporate purposes.

Borrowings bear interest at Libor plus 60 basis points.

The loan matures on Aug.15, 2022.

Sumitomo Mitsui Banking Corp. is administrative agent.

Oncor is an electric utility based in Dallas.

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