ONCOR ELECTRIC DELIVERY CO LLC: debt financing — Oncor issues €700M notes at 5.44% USD all-in; HB 5247 UTM expected to boost ROE 50-100 bps

ONCOR ELECTRIC DELIVERY CO LLC

Issued €700M 3.625% Senior Secured Notes due 2034; all-in USD fixed rate 5.4405% via cross-currency swaps.
Net proceeds ~€691.1M ($794.4M); will repay $210M AR securitization facility and outstanding commercial paper.
Texas HB 5247 (UTM) signed June 20, effective; Oncor expects to qualify and file first UTM in H1 2026.
UTM allows annual interim rate adjustments for eligible T&D capex through 2035; expected to improve ROE by 50-100 bps.
Oncor will begin recognizing regulatory asset for eligible capex placed in service after Dec 31, 2024.

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 senior notes of €700 million aggregate principal amount with The Bank of New York Mellon Trust Company, N.A. at 3.625% per annum maturing June 15, 2034.

Instrument: senior notes
Principal: €700 million aggregate principal amount
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Rate: 3.625% per annum
Maturity: June 15, 2034
Event: incurrence

Exact text from the filing

On June 16, 2025, Oncor Electric Delivery Company LLC (“Oncor”) completed a sale of €700 million aggregate principal amount of its 3.625% Senior Secured Notes due 2034 (the “Notes”).

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Source: SEC EDGAR

accession 0001193125-25-144167

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