Tampa Electric gets $300 million 364-day loans at Libor plus 70 bps

By Susanna Moon

Chicago, Nov. 8 – Tampa Electric Co. obtained a $300 million 364-day bank credit facility last Thursday with Wells Fargo Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

Interest on the loans will be Libor plus 70 basis points.

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

Lenders also include Suntrust Bank, Bank of New York Mellon, Bank of America, NA, Canadian Imperial Bank of Commerce and Toronto-Dominion Bank, New York Branch.

The credit agreement will mature on Nov. 1, 2018.

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

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