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Chugach Electric Association issues $29M in commercial paper

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Chugach Electric Association issues $29M in commercial paper

Chugach Electric Association Inc. issued $29.0 million in commercial paper, according to a March 20 Form 8-K filing.

The issuance increases the total outstanding commercial paper balance to $85.0 million, representing 10.3% of the total assets as of Dec. 3, 2018.

Chugach's commercial paper program is backed by a $150.0 million unsecured credit agreement. Available borrowing capacity under the program is now $65.0 million.