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SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT
Evergy's $2.5 billion master credit facility expires in 2026. Evergy, Evergy Kansas Central, Evergy Metro and Evergy Missouri West have borrowing capacity under the master credit facility with specific sublimits for each borrower. These sublimits can be unilaterally adjusted by Evergy for each borrower provided the sublimits remain within minimum and maximum sublimits as specified in the facility. The applicable interest rates and commitment fees of the facility are subject to upward or downward adjustments, within certain limitations, if Evergy achieves, or fails to achieve, certain sustainability-linked targets based on two key performance indicator metrics: (i) Non-Emitting Generation Capacity and (ii) Diverse Supplier Spend (as defined in the facility).
A default by any borrower under the facility or one of its significant subsidiaries on other indebtedness totaling more than $100.0 million constitutes a default by that borrower under the facility. Under the terms of this facility, each of Evergy, Evergy Kansas Central, Evergy Metro and Evergy Missouri West is required to maintain a total indebtedness to total capitalization ratio, as defined in the facility, of not greater than 0.65 to 1.00 at all times. As of June 30, 2022, Evergy, Evergy Kansas Central, Evergy Metro and Evergy Missouri West were in compliance with this covenant.
The following table summarizes the committed credit facilities (excluding receivable sale facilities discussed in Note 3) available to the Evergy Companies as of June 30, 2022 and December 31, 2021.
Amounts Drawn
Master Credit FacilityCommercial PaperLetters of CreditCash BorrowingsAvailable BorrowingsWeighted Average Interest Rate on Short-Term Borrowings
June 30, 2022(millions)
Evergy, Inc.$450.0 $109.5 $0.7 $— $339.8 1.87%
Evergy Kansas Central1,000.0 728.5 0.1 — 271.4 1.91%
Evergy Metro350.0 — — — 350.0 —%
Evergy Missouri West700.0 690.5 — — 9.5 1.92%
Evergy$2,500.0 $1,528.5 $0.8 $— $970.7 
December 31, 2021
Evergy, Inc.$700.0 $358.0 $0.7 $— $341.3 0.34%
Evergy Kansas Central750.0 406.0 0.1 — 343.9 0.41%
Evergy Metro350.0 — — — 350.0 —%
Evergy Missouri West700.0 395.3 — — 304.7 0.40%
Evergy$2,500.0 $1,159.3 $0.8 $— $1,339.9 
In February 2022, Evergy, Inc. entered into a $500.0 million unsecured Term Loan Credit Agreement (Term Loan Facility) that expires in February 2023. As of June 30, 2022, Evergy had borrowed $500.0 million under the Term Loan Facility. The weighted average interest rate for borrowings under the Term Loan Facility as of June 30, 2022,
was 2.33%. Evergy's borrowings under the Term Loan Facility were used for, among other things, working capital, capital expenditures and general corporate purposes. The Term Loan Facility contains customary covenants, including one that sets the ratio of maximum allowed total indebtedness to total capitalization of not greater than 0.65 to 1.00, for Evergy and its subsidiaries on a consolidated basis. As of June 30, 2022, Evergy was in compliance with this covenant.