Oncor Electric extends revolver commitments by one year to 2027

By Marisa Wong

Los Angeles, Nov. 9 – Oncor Electric Delivery Co. LLC entered into a first amendment on Wednesday to its revolving credit agreement dated Nov. 9, 2021 with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement provides for an unsecured revolving credit facility in an aggregate principal amount of up to $2 billion and an accordion feature allowing Oncor to request an increase of up to $400 million, in $100 million increments.

The amendment extends the existing commitments thereunder for a period of one year, to Nov. 9, 2027. Following the amendment, the agreement gives Oncor the option of extending those commitments for up to one additional one-year period.

The amendment also replaces Libor with SOFR as the interest rate benchmark and revises alternative rate of interest provisions. The applicable margin remains unchanged.

The electric company is based in Dallas.

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