Exelon enters four term loans maturing in 2023 that total $2 billion

By Wendy Van Sickle

Columbus, Ohio, Jan. 26 – Exelon Corp. entered into four separate unsecured term loan credit facilities totaling $2 billion on Jan. 21 and Jan. 24, according to an 8-K filing with the Securities and Exchange Commission.

The company entered a $1.15 billion term loan with Barclays Bank plc that will mature on Jan. 23, 2023. It entered term loans totaling $850 million with PNC Bank NA, Sumitomo Mitsui Banking Corp. and U.S. Bank NA. The PNC term loan matures on July 24, 2023. The Sumitomo and U.S. Bank term loan each matures on July 21, 2023.

The Barclays loan bears interest at SOFR plus 57 basis points with a 22.5 bps increase starting on July 24, 2022.

The PNC, Sumitomo and U.S. Bank term loans bear interest of SOFR plus 65 bps.

Proceeds from the term loans will be used primarily to fund a $1.75 billion cash payment to Constellation Energy Corp. and for general corporate purposes.

Exelon is the parent of Exelon Generation and is a utility services holding company based in Chicago.

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