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Pinnacle West secures $150M term loan

Pinnacle West Capital Corp. entered a $150 million unsecured term loan to help meet general corporate needs.

The term loan will mature Dec. 21, 2020. Borrowings will bear interest at 60 basis points above the London interbank offered rate, according to a company filing.

KeyBank NA served as agent, while PNC Bank NA and Wells Fargo Bank NA acted as co-syndication agents.