Southern California Edison gets $750 million 364-day term loan

By Wendy Van Sickle

Columbus, Ohio, Feb. 4 – Southern California Edison Co. entered into a credit agreement on Monday providing for a $750 million 364-day term loan, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA, Citibank, NA, Bank of America Merrill Lynch, PNC Bank, NA and Wells Fargo Bank, NA are the lead arrangers and bookrunners.

JPMorgan is the administrative agent.

Citibank, MUFG Union Bank, Wells Fargo Bank, Barclays, Mizuho Bank and U.S. Bank are the co-syndication agents.

Borrowings bear interest at Libor plus 70 basis points.

The full amount was drawn and closing, and proceeds are expected to be used for working capital and general corporate purposes.

The term loan matures on March 3, 2020.

Southern California Edison is a subsidiary of Edison International, a Rosemead, Calif., energy company.

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