CONSOLIDATED EDISON INC (ED): debt financing — Con Edison enters $3.5B revolving credit facility, terminates prior agreements

CONSOLIDATED EDISON INC

$3.5 billion revolving credit facility with Bank of America as administrative agent, dated March 11, 2026.
Allocations: CECONY $3.5B full amount, Con Edison $800M (up to $1B), O&R $250M (up to $300M).
Facility matures March 11, 2031, extendable by up to two additional one-year terms.
Terminates prior March 2023 and March 2025 credit agreements; used to support commercial paper programs.
Covenants include debt-to-capital ratio not exceeding 0.65 to 1 and lien limitation of 10% of net tangible assets.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

CONSOLIDATED EDISON INC incurred revolving credit of aggregate amount of up to $3.5 billion of credit available with Bank of America, N.A., as Administrative Agent at variable interest rates maturing March 11, 2031.

Instrument: revolving credit
Principal: aggregate amount of up to $3.5 billion of credit available
Counterparty: Bank of America, N.A., as Administrative Agent
Rate: variable interest rates
Maturity: March 11, 2031
Event: incurrence

Exact text from the filing

as Administrative Agent. Under the Credit Agreement, the Lenders committed to provide loans and letters of credit, on a revolving credit basis, in an aggregate amount of up to $3.5 billion of credit available, with the full amount available to CECONY, $800 million available to Con Edison (subject to increase up to $1 billion) and $250 million available to O&R

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

CONSOLIDATED EDISON INC terminated Credit Agreement dated as of March 27, 2023 with Bank of America, N.A., as Administrative Agent valued at Termination of prior Credit Agreement dated March 27, 2023 (effective 2026-03-11).

Action: termination
Agreement: credit facility
Counterparty: Bank of America, N.A., as Administrative Agent
Value: Termination of prior Credit Agreement dated March 27, 2023
Effective: 2026-03-11

Exact text from the filing

The Credit Agreement terminates: (i) that certain Credit Agreement, dated as of March 27, 2023, among the Companies, as Borrowers, the lenders party thereto and Bank of America, N.A., as Administrative Agent and (ii) that certain 364-Day Revolving Credit Agreement, dated as of March 24, 2025, among CECONY, as Borrower, the lenders party thereto and Bank of America, N.A., as Administrative Agent.

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

CONSOLIDATED EDISON INC entered into Credit Agreement, dated as of March 11, 2026 with Bank of America, N.A., as Administrative Agent valued at aggregate amount of up to $3.5 billion (effective 2026-03-11).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A., as Administrative Agent
Value: aggregate amount of up to $3.5 billion
Effective: 2026-03-11

Exact text from the filing

On March 11, 2026, Consolidated Edison, Inc. (“Con Edison”) and its subsidiaries, Consolidated Edison Company of New York, Inc. (“CECONY”) and Orange and Rockland Utilities, Inc. (“O&R,” and along with Con Edison and CECONY, each a “Company” and collectively, the “Companies”), entered into a Credit Agreement, dated as of March 11, 2026 (the “Credit Agreement”) among the Companies, as Borrowers, the lenders party thereto (the “Lenders”) and Bank of America, N.A., as Administrative Agent.

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

CONSOLIDATED EDISON INC terminated 364-Day Revolving Credit Agreement dated as of March 24, 2025 with Bank of America, N.A., as Administrative Agent valued at Termination of prior 364-Day Revolving Credit Agreement dated March 24, 2025 (effective 2026-03-11).

Action: termination
Agreement: credit facility
Counterparty: Bank of America, N.A., as Administrative Agent
Value: Termination of prior 364-Day Revolving Credit Agreement dated March 24, 2025
Effective: 2026-03-11

Exact text from the filing

The Credit Agreement terminates: (i) that certain Credit Agreement, dated as of March 27, 2023, among the Companies, as Borrowers, the lenders party thereto and Bank of America, N.A., as Administrative Agent and (ii) that certain 364-Day Revolving Credit Agreement, dated as of March 24, 2025, among CECONY, as Borrower, the lenders party thereto and Bank of America, N.A., as Administrative Agent.

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Source: SEC EDGAR

accession 0001193125-26-102202

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