---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-000157"
form_type: "8-K"
ticker: "AVA"
cik: "0000104918"
company_name: "AVISTA CORP"
filed_at: "2023-01-05T23:59:59+00:00"
generated_at: "2026-06-20T19:16:09.959725+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Avista secures $100M in additional liquidity amid elevated energy prices

## Summary
- Entered $50M uncommitted letter of credit agreement with MUFG Bank on Dec 29; $28.5M outstanding as of Jan 4.
- Added $50M incremental term loan under existing credit facility with CoBank on Dec 30, total now $150M.
- Borrowed entire $50M incremental loan; matures March 30, 2023, variable rate based on SOFR or base rate.
- Actions driven by elevated natural gas/power prices and margin calls; expects conditions to persist through winter.
- Covenants include total debt-to-capitalization ratio not exceeding 65% and customary events of default.

## SEC filing metadata
- accession: 0000950170-23-000157
- form_type: 8-K
- ticker: AVA
- cik: 0000104918
- company_name: AVISTA CORP
- filed_at: 2023-01-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/104918/000095017023000157/0000950170-23-000157-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/104918/000095017023000157/ava-20221229.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-000157
- JSON: https://secwatch.observer/filing/0000950170-23-000157.json
- Plain text: https://secwatch.observer/filing/0000950170-23-000157.txt

## Key facts
- Debt Financings
  AVISTA CORP incurred credit facility of $50 million with U.S. Bank National Association, as Administrative Agent, and CoBank, as Incremental Lender at variable annual interest rate determined by either the Secured Overnight Financi maturing March 30, 2023.
  - Instrument: credit facility
  - Principal: $50 million
  - Counterparty: U.S. Bank National Association, as Administrative Agent, and CoBank, as Incremental Lender
  - Rate: variable annual interest rate determined by either the Secured Overnight Financi
  - Maturity: March 30, 2023
  - Event: incurrence
  source text: Additionally, on December 30, 2022, the Company entered into an Incremental Commitment and Lender Joinder Agreement with U.S. Bank National Association, as Administrative Agent, and CoBank, as Incremental Lender in an incremental amount of $50 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/104918/000095017023000157/0000950170-23-000157-index.htm
- Debt Financings
  AVISTA CORP incurred credit facility of $50 million with MUFG Bank Ltd..
  - Instrument: credit facility
  - Principal: $50 million
  - Counterparty: MUFG Bank Ltd.
  - Event: incurrence
  source text: On December 29, 2022, the Company entered into an uncommitted and unsecured Continuing Letter of Credit Agreement with MUFG Bank Ltd., as Issuer, in the aggregate amount of $50 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/104918/000095017023000157/0000950170-23-000157-index.htm
- Material Agreements
  AVISTA CORP entered into Incremental Commitment and Lender Joinder Agreement with U.S. Bank National Association and CoBank valued at $50 million incremental borrowing (effective 2022-12-30).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: U.S. Bank National Association and CoBank
  - Value: $50 million incremental borrowing
  - Effective: 2022-12-30
  source text: On December 30, 2022, the Company entered into an Incremental Commitment and Lender Joinder Agreement with U.S. Bank National Association, as Administrative Agent, and CoBank, as Incremental Lender in an incremental amount of $50 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/104918/000095017023000157/0000950170-23-000157-index.htm
- Material Agreements
  AVISTA CORP entered into Continuing Letter of Credit Agreement with MUFG Bank Ltd. valued at $50 million (effective 2022-12-29).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: MUFG Bank Ltd.
  - Value: $50 million
  - Effective: 2022-12-29
  source text: On December 29, 2022, the Company entered into an uncommitted and unsecured Continuing Letter of Credit Agreement with MUFG Bank Ltd., as Issuer, in the aggregate amount of $50 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/104918/000095017023000157/0000950170-23-000157-index.htm

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