OGE ENERGY CORP. (OGE): debt financing — OGE Energy and OG&E enter $650M each revolving credit facilities, replacing $550M facilities

OGE ENERGY CORP.

Each $650M unsecured facility matures June 12, 2031, with two optional one-year extensions.
No borrowings outstanding on OGE Energy facility; OG&E had $0.4M in outstanding letters of credit.
Interest: SOFR + 0.80%-1.475% (OGE) or SOFR + 0.69%-1.275% (OG&E); facility fees 0.075%-0.275% (OGE) and 0.06%-0.225% (OG&E).
Financial covenant: max debt-to-capitalization of 70% (OGE) and 65% (OG&E).
Each facility can be increased by up to $150M to $800M max, and includes a $100M letter of credit sublimit.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

OGE ENERGY CORP. incurred revolving credit of $650 million with Wells Fargo Bank, National Association at either the SOFR, plus a margin of 0.69 percent to 1.275 percent, or an alternate maturing June 12, 2031.

Instrument: revolving credit
Principal: $650 million
Counterparty: Wells Fargo Bank, National Association
Rate: either the SOFR, plus a margin of 0.69 percent to 1.275 percent, or an alternate
Maturity: June 12, 2031
Event: incurrence

Exact text from the filing

OGE Energy's $650 million New Facility is with Wells Fargo Bank, National Association, as Agent, JPMorgan Chase Bank, N.A. and Mizuho Bank, Ltd., as Co-Syndication Agents, Morgan Stanley Senior Funding, Inc., MUFG Bank, Ltd., Royal Bank of Canada and U.S. Bank National Association, as Co-Documentation Agents, and the several lenders from time to time parties thereto.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Instrument: revolving credit
Principal: $650 million
Counterparty: Wells Fargo Bank, National Association
Rate: either the SOFR, plus a margin of 0.69 percent to 1.275 percent, or an alternate
Maturity: June 12, 2031
Event: incurrence

Exact text from the filing

OG&E's $650 million New Facility is with Wells Fargo Bank, National Association, as Agent, JPMorgan Chase Bank, N.A. and Mizuho Bank, Ltd., as Co-Syndication Agents, Morgan Stanley Senior Funding, Inc., MUFG Bank, Ltd., Royal Bank of Canada and U.S. Bank National Association, as Co-Documentation Agents, and the several lenders from time to time parties thereto.

View on SEC.gov

295 debt financings filed in the last 30 days. Browse all debt financings →

OGE ENERGY CORP. filing history →

Source: SEC EDGAR

accession 0001021635-26-000019

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