Oncor Electric Delivery closes $460 million 13-month term loan

By Marisa Wong

Los Angeles, Sept. 9 – Oncor Electric Delivery Co. LLC entered into a $460 million term loan credit agreement on Sept. 6 with Wells Fargo Bank, NA as administrative agent and a lender, according o an 8-K filing with the Securities and Exchange Commission.

Wells Fargo Securities, LLC is the lead arranger and bookrunner.

Oncor may borrow the full amount at any time before Oct. 7.

The term loan has a 13-month term maturing on Oct. 6, 2020.

Loans bear interest at Libor plus 50 basis points.

The loan requires that Oncor maintain a consolidated senior debt to capitalization ratio of no greater than 0.65 to 1.00.

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.