Duke Energy draws down $2B from credit pacts

This post was originally published on this site

Duke Energy (DUK -4.5%) borrows the remaining $500M under its existing $1.0B revolving credit line and borrows $1.5B from a new 364-day term loan credit agreement.

Will use proceeds to reduce outstanding commercial paper and to fund general corporate purposes.

Term loan pact includes a provision to increase the amount available by up to $500M.

As of March 19, 2020, Duke had ~$1.9B of cash on hand and $4.4B available under its $8.0B master credit facility.

Has additional $2.5B liquidity available under outstanding equity forward agreements.

Sees its liquidity sufficient to support is funding needs.

Source: dailystockbuzz

Leave a comment

Your email address will not be published. Required fields are marked *