Exelon gets $123 million credit facility with 31 community banks

By Toni Weeks

San Luis Obispo, Calif., Oct. 21 - Exelon Corp. arranged a $123 million credit agreement with 31 community and minority-owned banks in Illinois, Pennsylvania, Maryland and New Jersey, according to a press release.

United Bank of Philadelphia, Seaway Bank and Trust Co., Riverside Community Bank and Harbor Bank of Maryland are the four lead arrangers.

Exelon's minority and community banking program, now in its 11th year, was launched in 2003 with a $36 million credit facility from eight community banks. JPMorgan Chase Bank, NA has been the administrative agent since inception. Since then, Exelon has more than tripled the credit facility size and quadrupled the numbers of participating banks, the release noted.

The credit facility provides subsidiaries Exelon Generation, PECO, ComEd and BGE with additional sources of credit at competitive prices, while participating banks benefit from having increased deposits and assets with which to serve their communities.

Exelon is an energy provider based in Chicago.

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