01—Abstract
Summary
Summary of the 8-K filed December 18, 2024. Cited figures are marked; the original filing is the authoritative source.
On December 18, 2024, Alliant Energy Corporation, Interstate Power and Light Company (IPL), and Wisconsin Power and Light Company (WPL) entered into a second amendment to their amended and restated five-year master credit agreement, originally dated December 17, 2021, with Wells Fargo Bank, National Association, as Administrative Agent, and the lenders party thereto.
The filing reports this under Item 2.03, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. The amendment extends the facility termination date from December 18, 2028 to December 18, 2029, renews each borrower's two one-year extension options, and increases aggregate lender commitments under the revolving credit facility from $1 billion to $1.3 billiona. Sublimits rise for Alliant Energy from $450 million to $600 million, for IPL from $250 million to $300 million, and for WPL from $300 million to $400 million.
The uncommitted accordion is increased from $300 million to $700 millionb. The borrowers' obligations under the Second Amendment are several and not joint, meaning no borrower is liable for another's conduct or acts as primary obligor, guarantor, or surety for another's obligations. The filing refers to the full amendment as Exhibit 4.1 for complete terms.
02—Key points
Key Highlights
- Revolving credit facility aggregate commitments increased from $1 billion to $1.3 billion
- Facility termination date extended from December 18, 2028 to December 18, 2029, with two one-year extension options renewed
- Alliant Energy sublimit raised from $450 million to $600 million; IPL from $250 million to $300 million; WPL from $300 million to $400 million
- Uncommitted accordion increased from $300 million to $700 million
- Borrower obligations are several and not joint, with no borrower guaranteeing another's obligations
- Filed under Item 2.03 as a direct financial obligation; full terms are in Exhibit 4.1
03—Questions
Frequently Asked Questions
What changed in the credit facility?
The second amendment increased total revolving commitments to $1.3 billion from $1 billion, extended the termination date to December 18, 2029, renewed the two one-year extension options, and increased the uncommitted accordion to $700 million from $300 million.
How much can each company borrow under the facility?
Sublimits are $600 million for Alliant Energy, $300 million for IPL, and $400 million for WPL, up from $450 million, $250 million, and $300 million, respectively.
Is any borrower responsible for another borrower's debt?
No. The filing states the obligations are several and not joint. No borrower is liable for the conduct of another, and none is a primary obligor, guarantor, or surety for another borrower's obligations.
Where can I find the complete terms of the amendment?
The description in the 8-K is qualified in its entirety by Exhibit 4.1, the Second Amendment to the Amended and Restated Five-Year Master Credit Agreement, which is incorporated by reference.
04—Continue