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Oncor Electric Delivery Secures $450M Term Loan
February 10, 2020
Source: S&P Global Market Intelligence
Oncor Electric Delivery Co. LLC entered a term loan credit agreement for $450 million with certain lenders and Sumitomo Mitsui Banking Corp. as the administrative agent.
The Sempra Energy subsidiary can borrow the full loan amount in up to four borrowings at any time before April 27, according to a Jan. 30 filing.
The loans, which have a maturity date of June 1, 2021, will bear yearly interest equal to London interbank offered rate plus 0.50% until June 1, 2021, or a certain alternate base rate, at Oncor's option.
On Jan. 29, the company borrowed $163 million under the loan agreement and plans to apply use the proceeds for general corporate purposes.
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