El Paso Electric increases revolver due 2016 to $300 million

By Angela McDaniels

Tacoma, Wash., April 3 - El Paso Electric Co. exercised its accordion feature in full, increasing the size of its revolving credit facility due 2016 to $300 million from $200 million.

The increase was made on Thursday. A new lender was added, according to an 8-K filing with the Securities and Exchange Commission.

Bank of New York Mellon Trust Co., NA, as trustee of Rio Grande Resources Trust II, may borrow amounts under the revolver and use them to finance the acquisition and processing of nuclear fuel. El Paso Electric guarantees borrowings made by the trustee.

JPMorgan Chase Bank, NA is administrative agent and issuing bank. Union Bank, NA is the syndication agent.

El Paso Electric is an El Paso-based utility company.

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