ONCOR ELECTRIC DELIVERY CO LLC: debt financing — Oncor Electric Delivery borrows $150M under term loan agreement with U.S. Bank

ONCOR ELECTRIC DELIVERY CO LLC

$150M term loan borrowed on March 23, 2023; matures April 30, 2024.
Interest at Term SOFR +0.95% or ABR; proceeds used for general corporate purposes and repaying commercial paper.
Financial covenant: consolidated senior debt to total capitalization ratio ≤0.65:1.
Cross-default triggers at $100M of other indebtedness or unstayed judgments.
Lender U.S. Bank also participates in Oncor's revolving credit facility.

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

ONCOR ELECTRIC DELIVERY CO LLC incurred term loan of $150 million with U.S. Bank National Association at SOFR plus 0.95% maturing April 30, 2024.

Instrument: term loan
Principal: $150 million
Counterparty: U.S. Bank National Association
Rate: SOFR plus 0.95%
Maturity: April 30, 2024
Event: incurrence

Exact text from the filing

On March 22, 2023, Oncor Electric Delivery Company LLC, a Delaware limited liability company (“Oncor”), entered into a Term Loan Credit Agreement (the “Term Loan Agreement”) between Oncor, as the borrower, and U.S. Bank National Association, as the lender (the “Lender”). The Term Loan Agreement provides for a term loan credit facility in an aggregate principal amount of $150 million (the “Term Loan Facility”) with a maturity date of April 30, 2024. On March 23, 2023, Oncor borrowed $150 million aggregate principal amount under the Term Loan Agreement which was the full amount of the Term Loan Facility.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ONCOR ELECTRIC DELIVERY CO LLC entered into Term Loan Agreement with U.S. Bank National Association valued at $150 million (effective 2023-03-22).

Action: entry
Agreement: credit facility
Counterparty: U.S. Bank National Association
Value: $150 million
Effective: 2023-03-22

Exact text from the filing

On March 22, 2023, Oncor Electric Delivery Company LLC, a Delaware limited liability company (“Oncor”), entered into a Term Loan Credit Agreement (the “Term Loan Agreement”) between Oncor, as the borrower, and U.S. Bank National Association, as the lender (the “Lender”). The Term Loan Agreement provides for a term loan credit facility in an aggregate principal amount of $150 million (the “Term Loan Facility”)

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Source: SEC EDGAR

accession 0001193125-23-077857

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