FirstEnergy extends two term loan facilities, reallocates amounts

By Sarah Lizee

Olympia, Wash., Sept. 17 – FirstEnergy Corp. amended its 364-day term loan facility with Bank of Nova Scotia and its two-year term loan facility with JPMorgan Chase Bank, NA on Sept. 11, according to an 8-K filing with the Securities and Exchange Commission.

The 364-day facility was extended to Sept. 9, 2020, and the two-year loan was extended to Sept. 11, 2021.

Also, the amendments reallocated $250 million of loans to the two-year facility from the 364-day facility.

Following the amendments, the total outstanding amount of the 364-day facility is $1 billion, and the total outstanding amount of the two-year loan is $750 million.

FirstEnergy paid customary arrangement and upfront fees to the arranging banks and other lenders in connection with the closing of the amendments.

FirstEnergy Solutions is an Akron, Ohio, provider of energy and services to retail and wholesale customers.

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