Brazos Electric’s $350 million DIP facility extended through Nov. 17

By Sarah Lizee

Olympia, Wash., May 13 – Brazos Electric Power Cooperative, Inc.’s $350 million new money revolving debtor-in-possession facility was extended through Nov. 17, according to a notice filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

JPMorgan Chase Bank, NA is the administrative agent and collateral agent, as previously reported.

Interest is Libor plus 250 basis points. The default rate will be an additional 200 bps over the interest rate.

Brazos Electric is a 3,994-megawatt generation and transmission cooperative based in Waco, Tex. The company filed bankruptcy on March 1, 2021 under Chapter 11 case number 21-30725.

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