Debt and Credit Agreements

3 Months Ended

Mar. 31, 2024

Debt and Credit Agreements

Debt and Credit Agreements

Note 5.Debt and Credit Agreements

Long-Term Debt

During the three months ended March 31, 2024, SCE issued the following first and refunding mortgage bonds:

Description	Month of Issuance	Rate	Maturity Date	Amount (in millions)
Series 2024A	January 2024	4.875%	2027	$	500
Series 2024B	January 2024	5.20%	2034		900
Series 2024C	March 2024	5.35%	2026		600
Series 2024D	March 2024	5.15%	2029		600
Series 2024E	March 2024	5.75%	2054		400

The proceeds were used to fund and refinance debt for the payment of wildfire claims and related expenses above the amount of insurance proceeds, repay commercial paper borrowings, and for general corporate purposes.

Credit Agreements and Short-Term Debt

The following table summarizes the status of the credit facilities at March 31, 2024:

(in millions, except for rates)
Borrower	Termination Date	Secured Overnight Financing Rate ("SOFR") plus (bps)	Commitment		Outstanding borrowings		Outstanding letters of credit		Amount available
Edison International Parent1, 3	May 2027	128	$	1,500	$	263	$	—	$	1,237
SCE2, 3	May 2027	108		3,350		512		17		2,821
Total Edison International			$	4,850	$	775	$	17	$	4,058

1 At March 31, 2024, Edison International Parent had $263 million outstanding commercial paper, net of discount, at a weighted-average interest rate of 5.51%.

2 At March 31, 2024, SCE had $511 million outstanding commercial paper, net of discount, at a weighted-average interest rate of 5.58%.

3 The credit facilities have two additional one-year extension options. The aggregate maximum principal amount under the SCE and Edison International Parent revolving credit facilities may be increased up to $4.0 billion and $2.0 billion, respectively, provided that additional lender commitments are obtained.

Uncommitted Letters of Credit

SCE entered into agreements with certain lenders for bilateral unsecured standby letters of credit ("SBLC") with a total capacity of $625 million that is uncommitted and supported by reimbursement agreements. The SBLCs are not subject to any collateral or security requirements. At March 31, 2024, SCE had $100 million outstanding under these agreements, which expire before the end of 2024. The unused capacity under these agreements was $525 million.