Consolidated Edison Inc.
Consolidated Edison Companies Announce Credit Agreement Modifications
Summary
On March 25, 2024, Consolidated Edison Company of New York, Inc. (CECONY) entered into a new 364-Day Revolving Credit Agreement, replacing an expired agreement. The new agreement provides up to $500 million in loans for commercial paper and general corporate purposes. Additionally, on March 27, 2024, CECONY, along with Consolidated Edison, Inc. and Orange and Rockland Utilities, Inc., extended the termination date of their existing $2.5 billion Credit Agreement to March 27, 2029, and amended the interest rate mechanics for Term SOFR Loans.
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About Consolidated Edison Inc.
Consolidated Edison Inc. is a prominent utility company responsible for the delivery of energy services in the northeastern United States. Its primary function is the transmission of electricity and natural gas, as well as steam service, primarily serving the densely populated New York metropolitan area. Notably, it operates through its principal subsidiaries such as Consolidated Edison Company of New York, Inc. and Orange and Rockland Utilities, Inc., ensuring reliable energy provisions to millions of residents and businesses. The company is a key player in the energy sector, influencing regional economic activities and supporting essential services through its infrastructure. Consolidated Edison also focuses on advancements in renewable energy initiatives, playing an integral part in regional efforts to transition to sustainable energy solutions. Its prominence in delivering consistent energy supplies makes it a critical component in the market, directly impacting energy policy and regional economic stability.
Official SEC Documents
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