ONCOR ELECTRIC DELIVERY CO LLC: debt financing — Oncor issues $1B in senior secured notes; repays $875M in borrowings

ONCOR ELECTRIC DELIVERY CO LLC

Issued $600M of 4.30% Senior Secured Notes due 2028 and $400M of 4.95% Senior Secured Notes due 2052.
Net proceeds of ~$969.9M used to repay $625M term loan (Jan 2023), $150M term loan (Mar 2023), and $100M AR facility.
All three borrowings fully repaid; AR facility remains available for future draws up to facility limit.
2052 Notes are an additional issuance of existing series (originally $500M from Sep 2022); fungible upon exchange.

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 senior notes of $600 million aggregate principal amount of its 4.30% Senior Secured Notes due 2028 with initial purchasers at 4.30% per annum maturing May 15, 2028.

Instrument: senior notes
Principal: $600 million aggregate principal amount of its 4.30% Senior Secured Notes due 2028
Counterparty: initial purchasers
Rate: 4.30% per annum
Maturity: May 15, 2028
Event: incurrence

Exact text from the filing

On May 11, 2023, Oncor Electric Delivery Company LLC (“Oncor”) completed a sale of $600 million aggregate principal amount of its 4.30% Senior Secured Notes due 2028 (the “2028 Notes”)

View on SEC.gov

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

ONCOR ELECTRIC DELIVERY CO LLC incurred senior notes of $400 million aggregate principal amount of its 4.95% Senior Secured Notes due 2052 with initial purchasers at 4.95% per annum maturing September 15, 2052.

Instrument: senior notes
Principal: $400 million aggregate principal amount of its 4.95% Senior Secured Notes due 2052
Counterparty: initial purchasers
Rate: 4.95% per annum
Maturity: September 15, 2052
Event: incurrence

Exact text from the filing

On May 11, 2023, Oncor Electric Delivery Company LLC (“Oncor”) completed a sale of $600 million aggregate principal amount of its 4.30% Senior Secured Notes due 2028 (the “2028 Notes”) and $400 million aggregate principal amount of its 4.95% Senior Secured Notes due 2052 (the “2052 Notes” and, together with the 2028 Notes, the “Notes”).

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-23-142005

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