Tampa Electric amends, extends revolver agreement to 2028

By Mary-Katherine Stinson

Lexington, Ky., April 5 – Tampa Electric Co. on April 1 amended and restated its $800 million revolving bank credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The amendment extends the maturity date of the existing credit facility to Dec. 1, 2028 from Dec. 17, 2026.

Interest will be based on ratings and will accrue at SOFR plus 80 basis points to 147.5 bps.

The facility fee ranges from 7.5 bps to 27.5 bps.

Wells Fargo Bank, NA is the administrative agent.

Wells Fargo Securities, LLC, JPMorgan Chase Bank, NA, MUFG Bank Ltd., Canada Branch, Bank of Nova Scotia, Morgan Stanley Senior Lending, Inc. and Royal Bank of Canada are the joint lead arrangers and joint bookrunners.

JPMorgan is the syndication agent.

MUFG, Bank of Nova Scotia, Morgan Stanley and Royal Bank of Canada are the documentation agents.

Wells Fargo, JPMorgan, Royal Bank of Canada, MUFG, Bank of Nova Scotia, Morgan Stanley Bank, NA, Truist Bank, Bank of America NA, Canadian Imperial Bank of Commerce, New York Branch, Bank of Montreal, and Toronto-Dominion Bank, New York Branch are listed as the lenders.

Proceeds are earmarked for general corporate purposes.

The company is a Tampa, Fla.-based subsidiary of TECO Energy, Inc., an energy-related holding company.

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