Tampa Electric extends $325 million bank facility to 2022

By Wendy Van Sickle

Columbus, Ohio, March 31 – Tampa Electric Co. amended and restated its $325 million bank credit facility on Tuesday with Wells Fargo Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment extends the facility’s maturity date to March 22, 2022 from Dec. 17, 2018 and makes other technical changes.

Borrowings bear interest at Libor plus 67.5 basis points to 147.5 bps, with the exact margin based on the company’s credit ratings. There is also a facility fee of 7.5 bps to 27.5 bps.

Wells Fargo Securities, LLC, JPMorgan Chase Bank, NA, MUFG Union Bank, NA, Bank of Nova Scotia and Royal Bank of Canada are the joint lead arrangers and joint bookrunners.

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

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