Edison International enters into $800 million one-year term loan

Chicago, March 24 – Edison International Inc. entered into an $800 million term loan which matures on March 19, 2021, according to an 8-K filing with the Securities and Exchange Commission.

Edison borrowed the full amount on the loan on March 23. The loan is dated March 20.

The term loan bears interest at either a Eurodollar rate plus 112.5 basis points or a base rate plus 12.5 bps.

Per the covenants, Edison needs to maintain a ratio of consolidated total recourse debt to consolidated capital at a level that does not exceed 0.7x at the end of each quarter.

JPMorgan Chase Bank, NA is the administrative agent, and Citibank, NA is the syndication agent.

The purpose of the loan is to enhance financial flexibility.

Edison International is a Rosemead, Calif., energy company.

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