Pepco amends credit agreement in connection with Exelon merger

By Marisa Wong

Madison, Wis., May 1 – Pepco Holdings, Inc., Potomac Electric Power Co. (Pepco), Delmarva Power & Light Co. and Atlantic City Electric Co. entered into a third amendment on Friday to their second amended and restated credit agreement dated Aug. 1, 2011.

According to an 8-K filing with the Securities and Exchange Commission, the amendment amends the credit agreement in accordance with commitments made to various public service commissions in Exelon Corp. merger approval proceedings regarding ongoing financial relationships among the borrowers.

The amendment also sets a floor of zero for the Eurodollar base rate.

The amendments will become effective immediately upon the closing of the merger.

Bank of America, NA is the syndication agent and an issuer of letters of credit, and Wells Fargo Bank, NA is the agent.

Pepco is a utility based in Washington, D.C.

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