01—Abstract
Summary
Summary of the 8-K filed July 1, 2026. Cited figures are marked; the original filing is the authoritative source.
Evergy, Inc., together with its subsidiaries Evergy Kansas Central, Inc. and Evergy Metro, Inc., filed this combined Current Report on Form 8-K to disclose a refinancing of its bank credit facilities.
On June 30, 2026, Evergy, Evergy Missouri West, Inc., Evergy Metro and Evergy Kansas Central entered into a new Credit Agreement with Wells Fargo Bank, National Association, as Administrative Agent, and a syndicate of lenders. The new master revolving credit facility provides maximum borrowings of up to $3.5 billiona outstanding at any time, with sublimits of $200 million for letters of credit and $250 million for swingline loans, and an option to increase commitments by up to an additional $1 billion. The facility matures on June 30, 2031, and the borrowers may extend it on up to two occasions for one-year terms, subject to lender participation.
Concurrently with the new facility, the borrowers terminated the $2.5 billionb Amended and Restated Credit Agreement dated August 31, 2021, which was scheduled to mature August 31, 2028. Evergy also terminated a $1 billion Delayed Draw Term Loan Credit Agreement dated May 5, 2026, whose commitments were due to expire August 10, 2026. The filing states that no early termination penalties were incurred in connection with these terminations.
The new agreement includes customary covenants, including a maximum ratio of total indebtedness to total capitalization of 0.65 to 1.0 for Evergy Kansas Central, Evergy Metro and Evergy Missouri West, and 0.675 to 1.0 for Evergy. The filing also notes that the lenders and their affiliates have performed and may continue to perform investment banking, financial advisory, lending and commercial banking services for the companies, for which they receive customary compensation.
02—Key points
Key Highlights
- New $3.5 billion master revolving credit facility entered June 30, 2026, with Wells Fargo Bank, National Association as Administrative Agent
- Facility matures June 30, 2031, with up to two one-year extension options subject to lender participation
- Accordion feature allows commitments to be increased by up to an additional $1 billion
- Letter of credit sublimit of $200 million and swingline sublimit of $250 million
- Terminated the $2.5 billion credit agreement dated August 31, 2021 (scheduled maturity August 31, 2028) and the $1 billion delayed draw term loan dated May 5, 2026
- Debt-to-capitalization covenant of 0.65 to 1.0 for Evergy Kansas Central, Evergy Metro and Evergy Missouri West, and 0.675 to 1.0 for Evergy
- Filing states no early termination penalties were incurred on the terminated facilities
03—Questions
Frequently Asked Questions
What did Evergy do in this filing?
Evergy and its subsidiaries entered into a new $3.5 billion master revolving credit facility on June 30, 2026, and concurrently terminated an existing $2.5 billion credit agreement and a $1 billion delayed draw term loan agreement.
Who are the borrowers under the new Credit Facility?
The borrowers are Evergy, Inc., Evergy Missouri West, Inc., Evergy Metro, Inc. and Evergy Kansas Central, Inc. Wells Fargo Bank, National Association serves as Administrative Agent, Swingline Lender and Issuing Lender.
When does the new credit facility mature and can it be extended?
The facility matures June 30, 2031. The borrowers may elect to extend it on up to two occasions for additional one-year terms, provided there is no default and representations remain accurate, and subject to lender participation.
What financial covenants apply to the new facility?
The agreement sets a maximum ratio of total indebtedness to total capitalization of 0.65 to 1.0 for Evergy Kansas Central, Evergy Metro and Evergy Missouri West, and 0.675 to 1.0 for Evergy.
Were there any costs associated with terminating the prior facilities?
The filing states that Evergy, Evergy Kansas Central, Evergy Missouri West and Evergy Metro incurred no early termination penalties as a result of terminating the prior credit agreements.
04—Continue