ONCOR ELECTRIC DELIVERY CO LLC: debt financing — Oncor issues $150M senior secured notes and draws $280M revolver, fully utilizing $500M facility

ONCOR ELECTRIC DELIVERY CO LLC

Entered note purchase agreement for $100M 5.00% Series F notes due 2029 and $50M 5.49% Series G notes due 2054.
Borrowed $280M under $500M revolving credit facility on March 28, 2024, bringing total outstanding to $500M.
Proceeds from revolver used for general corporate purposes, including repayment of commercial paper.
Notes secured by a lien on Oncor's transmission and distribution property under the Deed of Trust.
Posted slide presentation for investor meetings on April 2, 2024 (Exhibit 99.1).

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 revolving credit of $280 million aggregate principal amount with Wells Fargo Bank, National Association at term secured overnight financing rate for the interest period relevant to such b maturing February 21, 2027.

Instrument: revolving credit
Principal: $280 million aggregate principal amount
Counterparty: Wells Fargo Bank, National Association
Rate: term secured overnight financing rate for the interest period relevant to such b
Maturity: February 21, 2027
Event: incurrence

Exact text from the filing

On March 28, 2024, Oncor borrowed $280 million aggregate principal amount under the Credit Agreement.

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

ONCOR ELECTRIC DELIVERY CO LLC incurred senior notes of $50,000,000 aggregate principal amount of 5.49% Senior Secured Notes, Series G at 5.49% maturing May 1, 2054.

Instrument: senior notes
Principal: $50,000,000 aggregate principal amount of 5.49% Senior Secured Notes, Series G
Rate: 5.49%
Maturity: May 1, 2054
Event: incurrence

Exact text from the filing

$50,000,000 aggregate principal amount of 5.49% Senior Secured Notes, Series G, due May 1, 2054

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

ONCOR ELECTRIC DELIVERY CO LLC incurred senior notes of $100,000,000 aggregate principal amount of 5.00% Senior Secured Notes, Series F at 5.00% maturing May 1, 2029.

Instrument: senior notes
Principal: $100,000,000 aggregate principal amount of 5.00% Senior Secured Notes, Series F
Rate: 5.00%
Maturity: May 1, 2029
Event: incurrence

Exact text from the filing

to the Note Purchase Agreement, on or about April 24, 2024, Oncor intends, subject to the satisfaction of the certain customary closing conditions specified therein, to issue $100,000,000 aggregate principal amount of 5.00% Senior Secured Notes, Series F, due May 1, 2029 (the “Series F Notes”) and $50,000,000 aggregate principal amount of 5.49% Senior Secured

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ONCOR ELECTRIC DELIVERY CO LLC entered into Note Purchase Agreement with the purchasers named therein valued at $100,000,000 aggregate principal amount of 5.00% Senior Secured Notes, Series F, due May 1, 2029 and (effective 2024-03-27).

Action: entry
Agreement: notes offering
Counterparty: the purchasers named therein
Value: $100,000,000 aggregate principal amount of 5.00% Senior Secured Notes, Series F, due May 1, 2029 and
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024, Oncor Electric Delivery Company LLC (“Oncor”) entered into a Note Purchase Agreement (the “Note Purchase Agreement”) with the purchasers named therein, which provides for the issuance by Oncor of certain senior secured notes.

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Source: SEC EDGAR

accession 0001193125-24-084747

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