TECO Energy subsidiary gets $400 million one-year credit facility

By Angela McDaniels

Tacoma, Wash., March 14 – TECO Energy, Inc. subsidiary TECO Finance, Inc. entered into a $400 million one-year credit facility on Monday, according to an 8-K filing with the Securities and Exchange Commission.

The interest rate is Libor plus a margin that ranges from 62.5 basis points to 137.5 bps depending on the company’s ratings.

JPMorgan Chase Bank, NA is the administrative agent.

JPMorgan, Bank of New York Mellon, MUFG Union Bank, NA and Wells Fargo Bank, NA are the joint lead arrangers and joint bookrunners.

Bank of New York Mellon, MUFG Union Bank and Wells Fargo Securities, LLC are the syndication agents.

Morgan Stanley Senior Funding, Inc., Citibank, NA, SunTrust Bank and Royal Bank of Canada are the documentation agents.

TECO Energy is a Tampa, Fla.-based holding company for regulated utilities and other businesses.

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