Summary
This Form 8-K filing by Consolidated Edison, Inc. (Con Edison) on September 4, 2013, primarily reports on a material definitive agreement. Specifically, Con Edison and its subsidiaries, Consolidated Edison Company of New York, Inc. and Orange and Rockland Utilities, Inc., entered into an Extension Agreement on August 29, 2013. This agreement extends the termination date of their existing Credit Agreement from October 27, 2016, to October 27, 2017. The credit facility in question has an approximate aggregate commitment of $2 billion. This extension provides the company with continued access to financial resources and demonstrates a stable credit arrangement.
Key Highlights
- 1Consolidated Edison, Inc. and its subsidiaries entered into a material definitive agreement.
- 2The agreement is an Extension to an existing Credit Agreement.
- 3The termination date of the Credit Agreement has been extended by one year, from October 27, 2016, to October 27, 2017.
- 4The Credit Agreement involves an approximate aggregate commitment of $2 billion.
- 5The extension pertains to lenders with aggregate commitments under the Credit Agreement.
- 6The agreement was effective August 29, 2013, and reported on September 4, 2013.
- 7JPMorgan Chase Bank, N.A. serves as the Administrative Agent for the credit facility.
Frequently Asked Questions
The main purpose of this filing is to report the entry into a material definitive agreement, specifically an Extension Agreement that extends the termination date of Consolidated Edison's existing Credit Agreement.
The Extension Agreement extends the termination date of the Credit Agreement by one year, from October 27, 2016, to October 27, 2017. This provides Con Edison with continued access to approximately $2 billion in committed credit.
The subsidiaries involved are Consolidated Edison Company of New York, Inc. and Orange and Rockland Utilities, Inc. (O&R).
JPMorgan Chase Bank, N.A. is the Administrative Agent for the credit facility.