TAMPA ELECTRIC CO: debt financing — Tampa Electric completes $500M issuance of 4.90% Notes due 2029

TAMPA ELECTRIC CO

Issued $500M of 4.90% Notes due 2029 at 99.932% of par; net proceeds ~$495.3M.
Notes mature March 1, 2029; interest paid semi-annually starting Sep 1, 2024.
Unsecured, rank equally with other unsecured debt; redeemable at T+15bps before Feb 1, 2029.
Event of default includes 30-day interest non-payment, principal non-payment, bankruptcy.

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

TAMPA ELECTRIC CO incurred senior notes of $500.0 million aggregate principal amount with The Bank of New York Mellon at 4.90% per annum maturing March 1, 2029.

Instrument: senior notes
Principal: $500.0 million aggregate principal amount
Counterparty: The Bank of New York Mellon
Rate: 4.90% per annum
Maturity: March 1, 2029
Event: incurrence

Exact text from the filing

On January 30, 2024, Tampa Electric Company (the “Company”) completed its previously reported offering of $500.0 million aggregate principal amount of 4.90% Notes due 2029 (the “Notes”).

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

TAMPA ELECTRIC CO entered into Eighteenth Supplemental Indenture with The Bank of New York Mellon valued at $500.0 million (effective 2024-01-30).

Action: entry
Agreement: notes offering
Counterparty: The Bank of New York Mellon
Value: $500.0 million
Effective: 2024-01-30

Exact text from the filing

On January 30, 2024, Tampa Electric Company (the “Company”) completed its previously reported offering of $500.0 million aggregate principal amount of 4.90% Notes due 2029 (the “Notes”).

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Source: SEC EDGAR

accession 0001193125-24-021168

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