8-KMaterial AgreementsFinancial EventsExhibits & Filings

EDISON INTERNATIONAL 8-K Report, Material Agreement (May 24, 2012)

Filed May 24, 2012For Securities:EIX

Summary

Edison International (EIX) announced on May 24, 2012, the execution of a new Credit Agreement on May 18, 2012. This agreement establishes a $1.25 billion revolving credit facility, which will be utilized for general corporate purposes. This new facility replaces a previous $1.5 billion revolving credit facility that was set to expire in February 2013. The new Credit Agreement has a termination date of May 18, 2017, with the possibility of extension. The involvement of several major financial institutions, including JPMorgan Chase Bank, N.A. as the administrative agent, highlights the company's access to significant credit markets. The transition to this new facility demonstrates proactive financial management to ensure continued liquidity.

Key Highlights

  • 1EIX entered into a new Credit Agreement on May 18, 2012.
  • 2The new agreement provides a $1.25 billion revolving credit facility.
  • 3The facility is intended for general corporate purposes.
  • 4This new credit facility replaces an existing $1.5 billion facility that was due to expire in February 2013.
  • 5The new Credit Agreement terminates on May 18, 2017, with an option for extension.
  • 6JPMorgan Chase Bank, N.A. is named as the administrative agent for the lenders.

Frequently Asked Questions

The new Credit Agreement establishes a $1.25 billion revolving credit facility primarily intended for Edison International's general corporate purposes, ensuring the company has access to liquidity.

The new $1.25 billion revolving credit facility replaces a prior $1.5 billion facility. While the total amount is slightly reduced, the new agreement extends the termination date to May 18, 2017, providing a longer-term liquidity source.

The new Credit Agreement has a termination date of May 18, 2017, and is subject to extension.

The Credit Agreement involves a syndicate of major banks, with JPMorgan Chase Bank, N.A. serving as the administrative agent. Other participating institutions include Union Bank, N.A., Wells Fargo Bank, N.A., Barclays Bank PLC, Citibank, N.A., and others acting as co-syndication and co-documentation agents.