Tri-State Generation & Transmission Association, Inc.: debt financing — Tri-State enters $650M credit facility, extends maturity to 2031; director change

Tri-State Generation & Transmission Association, Inc.

New $650M secured revolving credit agreement replaces prior $520M facility; maturity April 21, 2031.
Interest at Term SOFR +1.25% or alternate base rate +0.25% (margin based on credit ratings).
Proceeds for working capital, capex, letters of credit, and commercial paper backup.
Kelly Sheridan appointed to Board effective May 1, 2026, replacing Ronald Hilkey (White River Electric).

item 1.01 item 1.02 item 2.03 item 5.02 item 9.01

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

Tri-State Generation & Transmission Association, Inc. incurred credit facility of $650 million with National Rural Utilities Cooperative Finance Corporation at Term SOFR plus a margin (currently 1.25%) or alternate base rate plus a margin ( maturing April 21, 2031.

Instrument: credit facility
Principal: $650 million
Counterparty: National Rural Utilities Cooperative Finance Corporation
Rate: Term SOFR plus a margin (currently 1.25%) or alternate base rate plus a margin (
Maturity: April 21, 2031
Event: incurrence

Exact text from the filing

On April 21, 2026, Tri-State Generation and Transmission Association, Inc. (“Tri-State”) entered into a second amended and restated secured revolving credit facility with eight lenders, including National Rural Utilities Cooperative Finance Corporation (“CFC”), as sole arranger and administrative agent, in the amount of $650 million (“2026 Credit Agreement”), inclusive of swingline loan and letter of credit sublimits of $150 million each.

View on SEC.gov

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

Tri-State Generation & Transmission Association, Inc. amended 2026 Credit Agreement with eight lenders, including National Rural Utilities Cooperative Finance Corporation (CFC), as sole arranger and administrative agent valued at $650 million (effective 2026-04-21).

Action: amendment
Agreement: credit facility
Counterparty: eight lenders, including National Rural Utilities Cooperative Finance Corporation (CFC), as sole arranger and administrative agent
Value: $650 million
Effective: 2026-04-21

Exact text from the filing

On April 21, 2026, Tri-State Generation and Transmission Association, Inc. (“Tri-State”) entered into a second amended and restated secured revolving credit facility with eight lenders, including National Rural Utilities Cooperative Finance Corporation (“CFC”), as sole arranger and administrative agent, in the amount of $650 million (“2026 Credit Agreement”), inclusive of swingline loan and letter of credit sublimits of $150 million each.

View on SEC.gov

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

Tri-State Generation & Transmission Association, Inc. terminated Tri-State’s $520 million secured revolving credit agreement, dated April 25, 2022 with CFC, as administrative agent valued at $520 million (effective 2026-04-21).

Action: termination
Agreement: credit facility
Counterparty: CFC, as administrative agent
Value: $520 million
Effective: 2026-04-21

Exact text from the filing

The 2026 Credit Agreement amended and restated Tri-State’s $520 million secured revolving credit agreement, dated April 25, 2022, with CFC, as administrative agent

View on SEC.gov

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Source: SEC EDGAR

accession 0001637880-26-000019

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