CECONY (Con Edison subsidiary) enters $700M credit facility, borrows $500M immediately

CONSOLIDATED EDISON INC

CECONY borrowed $500M on Nov 25, 2024 under a $700M 364-day delayed draw term loan.
Remaining $200M available until Feb 23, 2025, subject to customary conditions; no credit rating maintenance.
Proceeds used for general corporate purposes.
Defaults include debt-to-capital ratio >0.65, liens >10% of net tangible assets, missed payments >$150M.
Facility is senior unsecured; lenders include U.S. Bank and PNC Capital Markets.

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