Southeastern Coops Amend and Extend Lines of Credit
The National Rural Utilities Cooperative Finance Corporation (CFC) recently arranged transactions for two coops that will amend and extend their lines of credit. Winchester-based East Kentucky Power Cooperative (EKPC) was able to increase its $450 million, five-year syndicated revolving credit facility to $500 million and extend the credit facility’s maturity date to 2018. The agreement provides the coop with immediate savings, and the extension will be beneficial because the coop anticipates financings in 2015 and 2016 to fund capital projects. PowerSouth Energy Cooperative (PowerSouth), based in Andalusia, Alabama, also changed certain terms of its existing credit facilities. PowerSouth extended the maturity date of its $350 million, five-year syndicated revolving credit facility by nearly two years. Click here to read more.
