AVISTA CORP (AVA): debt financing — Avista increases credit facility to $500M, extends maturity to June 2028

AVISTA CORP

Committed line of credit increased from $400M to $500M; expiration extended to June 8, 2028, with two possible one-year extensions.
LIBOR rate references replaced with SOFR provisions.
Separate $100M line of credit terminated.
Facility secured by $500M of non-transferable first mortgage bonds (12% nominal rate, due only on default).
Financial covenant unchanged: consolidated total debt to total capitalization capped at 65%.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AVISTA CORP amended credit facility of increased the aggregate amount available from $400 million to $500 million with agent bank maturing expiration date to June 8, 2028.

Instrument: credit facility
Principal: increased the aggregate amount available from $400 million to $500 million
Counterparty: agent bank
Maturity: expiration date to June 8, 2028
Event: amendment

Exact text from the filing

On June 8, 2023, Avista Corporation (Avista Corp. or the Company) amended its committed line of credit facility, increasing the aggregate amount available from $400 million to $500 million. The amendment also extended the expiration date to June 8, 2028

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AVISTA CORP filing history →

Source: SEC EDGAR

accession 0000950170-23-027534

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