UniSource completes $125 million amended and restated credit facility

By Sara Rosenberg

New York, Nov. 15 - UniSource Energy Corp. closed on a $125 million amended and restated four-year revolving credit facility

Union Bank, JPMorgan, SunTrust and Wells Fargo acted as the lead arrangers on the deal that was completed on Nov. 9.

Initial pricing on the revolver is Libor plus 300 basis points. Pricing can range from Libor plus 162.5 bps to Libor plus 350 bps based on ratings.

The new facility replaces a $30 million term loan and a $70 million revolver and will be used for general corporate purposes.

Also, the company's subsidiary, Tucson Electric Power Co., closed on a $200 million revolver and a $341 million letter-of-credit facility to support tax-exempt bonds priced at Libor plus 187.5 bps, and its UNS Electric Inc. subsidiary closed on a $100 million revolver priced at Libor plus 250 bps.

UniSource is a Tucson, Ariz.-based electric utility.

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