Southern California Edison enters $300 million 1½-year term loan

By Marisa Wong

Morgantown, W.Va., Jan. 13 – Southern California Edison Co. entered into a $300 million term loan credit agreement and borrowed the full amount on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The term loan matures on July 13, 2018.

Interest is equal to Libor plus 65 basis points.

The company expects to use loan proceeds for general corporate purposes.

Wells Fargo Bank, NA, TD Bank, NA and U.S. Bank NA are joint lead arrangers and joint bookrunners with Wells Fargo Bank, NA as administrative agent.

The public utility is based in Rosemead, Calif.

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