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Atlantic City Electric secures $125M term loan

Atlantic City Electric Co. secured two term loan facilities with an aggregate amount of $125 million, according to a May 25 Form 8-K filing.

The two $62.5 million credit facilities will expire on May 22, 2019, and bear interest at a variable rate equal to LIBOR plus 0.55%. The Exelon Corp. subsidiary plans to use proceeds for general corporate purposes.

U.S. Bank NA and PNC Bank NA acted as administrative agents for the loans.