Oncor Electric enters $150 million term loan due 2024 via U.S. Bank

By Marisa Wong

Los Angeles, March 23 – Oncor Electric Delivery Co. LLC entered into a $150 million term loan credit agreement on March 22 with U.S. Bank NA as lender, according to an 8-K filing with the Securities and Exchange Commission.

The term loan matures on April 30, 2024.

Loans bear interest at term SOFR plus 95 basis points.

In addition, the loan agreement requires that Oncor maintain a consolidated senior debt to consolidated total capitalization ratio of no greater than 0.65 to 1.00.

At closing, Oncor borrowed the full $150 million and used the proceeds for general corporate purposes, including repayment of outstanding commercial paper notes.

The electric company is based in Dallas.

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