TECO Energy gets $200 million amended and restated revolver

By Sara Rosenberg

New York, May 15 - TECO Energy Inc. closed on a $200 million amended and restated revolving credit facility due May 9, 2012, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

JPMorgan and Citigroup acted as the joint lead arrangers and bookrunners on the deal, with JPMorgan the administrative agent, Citi as syndication agent, and BNP Paribas, The Bank of New York and SunTrust as co-documentation agents.

Pricing on the revolver can range from Libor plus 35 to 150 basis points, depending on ratings.

There is a $50 million accordion feature.

The facility, which was completed on May 9, replaces the company's previous revolver that was due Oct. 11, 2010.

At the same time, the company's Tampa Electric Co. subsidiary closed on a $325 million amended and restated credit facility.

TECO is a Tampa, Fla.-based company engaged in diversified energy-related operations.

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