ONCOR ELECTRIC DELIVERY CO LLC: debt financing — Oncor Q2 net income falls to $200M; borrows $135M under AR facility; capex raised to $3.6B

ONCOR ELECTRIC DELIVERY CO LLC

Q2 net income $200M vs $229M YoY; YTD net income $303M vs $423M, including $55M rate base write-off.
Revenue $1,343M Q2 (+4% YoY); distribution base revenue up 2.3% (7.5% weather-normalized).
Borrowed $135M under AR Facility on July 28; total $460M outstanding. AR Facility limit $500M.
2023 capex budget increased to $3.6B from $3.4B due to growth and cost inflation.
Texas enacted SB 1015/1016/HB 2555 reducing regulatory lag and improving cost recovery.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

ONCOR ELECTRIC DELIVERY CO LLC incurred revolving credit of $135 million aggregate principal amount was borrowed under the AR Facility with MUFG Bank, Ltd. at SOFR calculated based on term SOFR for a one-month interest period, plus 0.10% maturing April 28, 2026.

Instrument: revolving credit
Principal: $135 million aggregate principal amount was borrowed under the AR Facility
Counterparty: MUFG Bank, Ltd.
Rate: SOFR calculated based on term SOFR for a one-month interest period, plus 0.10%
Maturity: April 28, 2026
Event: incurrence

Exact text from the filing

On July 28, 2023, $135 million aggregate principal amount was borrowed under the AR Facility.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ONCOR ELECTRIC DELIVERY CO LLC reported financial results for three and six months ended June 30, 2023.

Period: three and six months ended June 30, 2023
Result: reported results

Exact text from the filing

Oncor Electric Delivery Company LLC (“Oncor”) issued a press release discussing its financial results for the three and six months ended June 30, 2023.

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Source: SEC EDGAR

accession 0001193125-23-202302

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