Tampa Electric gets $300 million 364-day loan at Libor plus 100 bps

By Rebecca Melvin

New York, Feb. 12 –Tampa Electric Co. obtained a $300 million 364-day bank credit facility on Feb. 6 with Wells Fargo Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

Interest on the loan will be Libor plus 100 basis points.

Wells Fargo Bank, JPMorgan Chase Bank, NA, Royal Bank of Canada, MUFG Bank Ltd., Canada Branch and Bank of Nova Scotia are the company’s lenders.

The credit agreement will mature on Feb. 4, 2021.

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

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