---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-026781"
form_type: "8-K"
ticker: "AVA"
cik: "0000104918"
company_name: "AVISTA CORP"
filed_at: "2022-12-20T23:59:59+00:00"
generated_at: "2026-06-21T01:21:56.171842+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Avista borrows $100M term loan & expands revolver $50M amid gas/power price spikes

## Summary
- Entered $100M term loan credit agreement with U.S. Bank and MUFG, maturing March 30, 2023; borrowed full amount.
- Amended KeyBank revolver to increase by $50M to $100M total, maturing November 28, 2023; no borrowings as of Dec 19.
- Cites natural gas and power prices 5-8 times normal, driving liquidity needs for commodity purchases and margin calls.
- Both facilities unsecured with variable rates based on SOFR or Alternate Base Rate; includes covenant debt-to-cap ratio ≤ 65%.
- Proceeds used for short-term liquidity obligations and general corporate purposes amid expected winter volatility.

## SEC filing metadata
- accession: 0000950170-22-026781
- form_type: 8-K
- ticker: AVA
- cik: 0000104918
- company_name: AVISTA CORP
- filed_at: 2022-12-20T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/104918/000095017022026781/0000950170-22-026781-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/104918/000095017022026781/ava-20221214.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-026781
- JSON: https://secwatch.observer/filing/0000950170-22-026781.json
- Plain text: https://secwatch.observer/filing/0000950170-22-026781.txt

## Key facts
- Debt Financings
  AVISTA CORP amended revolving credit of $50 million with Keybank National Association at variable annual interest rate determined by either the Secured Overnight Financi maturing November 28, 2023.
  - Instrument: revolving credit
  - Principal: $50 million
  - Counterparty: Keybank National Association
  - Rate: variable annual interest rate determined by either the Secured Overnight Financi
  - Maturity: November 28, 2023
  - Event: amendment
  source text: Additionally, on December 15, 2022, the Company entered into the First Amendment of the Credit Agreement dated November 29, 2022 with Keybank National Association, as Lender and Administrative Agent. The amendment increases the existing unsecured revolving credit facility by $50 million, bringing the new total aggregate amount to $100 million, with a maturity date of November 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/104918/000095017022026781/0000950170-22-026781-index.htm
- Debt Financings
  AVISTA CORP incurred term loan of $100 million with U.S. Bank National Association and MUFG Bank Ltd. at variable annual interest rate determined by either the Secured Overnight Financi maturing March 30, 2023.
  - Instrument: term loan
  - Principal: $100 million
  - Counterparty: U.S. Bank National Association and MUFG Bank Ltd.
  - Rate: variable annual interest rate determined by either the Secured Overnight Financi
  - Maturity: March 30, 2023
  - Event: incurrence
  source text: On December 14, 2022, the Company entered into a Credit Agreement with U.S. Bank National Association, as Lender and Administrative Agent, and MUFG Bank Ltd. as Lender in an aggregate amount of $100 million with a maturity date of March 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/104918/000095017022026781/0000950170-22-026781-index.htm
- Material Agreements
  AVISTA CORP entered into Credit Agreement with U.S. Bank National Association, as Lender and Administrative Agent, and MUFG Bank Ltd. as Lender valued at $100 million (effective 2022-12-14).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: U.S. Bank National Association, as Lender and Administrative Agent, and MUFG Bank Ltd. as Lender
  - Value: $100 million
  - Effective: 2022-12-14
  source text: On December 14, 2022, the Company entered into a Credit Agreement with U.S. Bank National Association, as Lender and Administrative Agent, and MUFG Bank Ltd. as Lender in an aggregate amount of $100 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/104918/000095017022026781/0000950170-22-026781-index.htm
- Material Agreements
  AVISTA CORP amended First Amendment of the Credit Agreement dated November 29, 2022 with Keybank National Association, as Lender and Administrative Agent valued at $50 million (effective 2022-12-15).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Keybank National Association, as Lender and Administrative Agent
  - Value: $50 million
  - Effective: 2022-12-15
  source text: on December 15, 2022, the Company entered into the First Amendment of the Credit Agreement dated November 29, 2022 with Keybank National Association, as Lender and Administrative Agent. The amendment increases the existing unsecured revolving credit facility by $50 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/104918/000095017022026781/0000950170-22-026781-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.