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Edison International, SoCalEd upsize revolving credit facilities

Edison International amended a credit agreement to replace a $1.25 billion revolving credit facility with a $1.5 billion one, according to a Form 8-K filed May 18.

Separately, Edison International subsidiary Southern California Edison Co. also amended a credit agreement to replace a $2.75 billion revolving credit facility with a $3.0 billion one.

The original revolving credit facilities would have terminated on July 20, 2022. The new facilities will terminate on May 17, 2023, subject to extension.

Citibank NA, MUFG Union Bank NA, Wells Fargo Bank NA, Barclays Bank PLC, Mizuho Bank Ltd. and U.S. Bank NA served as co-syndication agents. JPMorgan Chase Bank NA acted as administrative agent for the lenders of both agreements.

Edison International plans to use the revolving credit facility to support commercial paper borrowings and for general corporate purposes. Meanwhile, SoCalEd expects to use its revolving credit facility to support commercial paper borrowings and letters of credit issued for procurement-related collateral requirements, balancing account undercollections and for general corporate purposes.