UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01. | Entry into a Material Definitive Agreement. |
On March 1, 2023, Tampa Electric Company (“Tampa Electric”) entered into a Credit Agreement (the “Credit Agreement”) with The Bank of Nova Scotia as Administrative Agent, Lead Arranger, Bookrunner, Syndication Agent, Documentation Agent, and Lender. The Credit Agreement is a 364-day, $200 million senior unsecured revolving loan credit facility with a maturity date of February 28, 2024.
The Credit Agreement contains customary representations and warranties, events of default, and financial and other covenants; and provides for interest to accrue at variable rates based on the secured overnight financing rate administered by the Federal Reserve Bank of New York, plus a margin, or, as an alternative to such interest rate, at an interest rate equal to a margin plus the highest of The Bank of Nova Scotia’s prime rate, the federal funds rate plus 0.50%, or the one-month secured overnight financing rate plus 1.00%.
The foregoing description of the Credit Agreement is qualified in its entirety by reference to the complete text of the Credit Agreement, which is filed as Exhibit 10.1 to this Report and incorporated herein by reference.
The Bank of Nova Scotia is a lender under other credit facilities of Tampa Electric and its affiliates, and affiliates of The Bank of Nova Scotia have in the past provided, and in the future may provide, investment banking, underwriting, lending, commercial banking and other advisory services to Tampa Electric and its affiliates.
Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
10.1 | Credit Agreement dated as of March 1, 2023, among Tampa Electric Company, as Borrower, The Bank of Nova Scotia, as Administrative Agent, and the Lenders party thereto. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 6, 2023 | TAMPA ELECTRIC COMPANY (Registrant) | |||||
By: | /s/ Michelle V. Szekeres | |||||
Michelle V. Szekeres | ||||||
Associate General Counsel and Corporate Secretary |