Edison International
Edison International Enters into $900 Million Term Loan Agreement
Summary
Edison International has entered into a Term Loan Credit Agreement for $900 million with a maturity date of December 22, 2026. The agreement allows for prepayment without penalty and specifies interest rates based on SOFR or the base rate. The loan is intended for general corporate purposes and maintains a financial covenant limiting debt to capital ratio.
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About Edison International
Edison International is a leading energy holding company based in California, primarily engaged in the generation and distribution of electric power. It operates through its subsidiary, Southern California Edison, one of the largest electric utilities in the United States, serving millions of residential, commercial, and industrial customers across Southern California. The company's primary function is to provide reliable and sustainable electricity, focusing on infrastructure resilience and clean energy solutions, including solar and wind power projects. Edison International plays a crucial role in the energy sector by facilitating the transition towards renewable energy sources, aiming to reduce carbon emissions and enhance energy efficiency. Its operations significantly impact industries such as construction, manufacturing, and technology, which rely on consistent power supply. Additionally, the company actively invests in modernizing the electric grid, which is pivotal for supporting the increasing demand for electric vehicles and integrating alternative energy sources. In the financial market, Edison International is recognized for its commitment to sustainability and its pivotal role in supporting the California economy through its energy solutions.
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