secwatch.observer — SEC 8-K summary
======================================

Issuer:     Avangrid, Inc. (—)
CIK:        0001634997
Form:       8-K
Filed at:   2023-07-21T23:59:59+00:00
Accession:  0001193125-23-191391
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avangrid secures $800M green loan at 5.453% from Iberdrola unit and $750M revolver
--------------------------------------------------------------------------------

- Intra-Group Green Loan of $800M from Iberdrola Financiación (5.453% fixed, matures July 2033).
- Intra-Group Credit Facility provides up to $750M revolving loans, matures June 2028.
- Amendment No.2 to existing $4B revolver replaces LIBOR with SOFR and drops PNM entities.
- Side letter amended to replace LIBOR with SOFR on Iberdrola merger funding commitment.
- All agreements with parent Iberdrola, which owns 81.5% of Avangrid stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1634997/000119312523191391/0001193125-23-191391-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1634997/000119312523191391/d532022d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-191391

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer