Atlantic City Electric gets $125 million term loans via U.S. Bank, PNC

By Marisa Wong

Morgantown, W.Va., May 25 – Atlantic City Electric Co. entered into two term loan agreements totaling $125 million on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.

Atlantic City Electric entered into a $62.5 million credit agreement with U.S. Bank NA as administrative agent and a $62.5 million credit agreement with PNC Bank, NA as administrative agent.

Both term loans expire on May 22, 2019.

Borrowings under both facilities bear interest at Libor plus 55 basis points.

The electric company is based in Newark, Del.

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