SHORT-TERM DEBT AND LINES OF CREDIT

12 Months Ended

Dec. 31, 2024

The following table shows our short-term borrowings and their corresponding weighted-average interest rates as of December 31:


(in millions, except percentages)	2024			2023
Commercial paper
Amount outstanding at December 31	$	62.0		$	310.3
Average interest rate on amounts outstanding at December 31	4.52		%	5.41		%

Our average amount of commercial paper borrowings based on daily outstanding balances during 2024 was $251.9 million, with a weighted-average interest rate during the period of 5.30%.

We have entered into a bank back-up credit facility to maintain short-term credit liquidity which, among other terms, requires us to maintain, subject to certain exclusions, a total funded debt to capitalization ratio of 65% or less. As of December 31, 2024, we were in compliance with this ratio.

The information in the table below relates to our revolving credit facility used to support our commercial paper borrowing program, including remaining available capacity under this facility as of December 31:


(in millions)	Maturity	2024
Revolving credit facility	September 2026	$	400.0

Less:
Letters of credit issued inside credit facility		1.3
Commercial paper outstanding		62.0
Available capacity under existing agreement		$	336.7

This facility has a renewal provision for two extensions, subject to lender approval. Each extension is for a period of one year.

Our bank back-up credit facility contains customary covenants, including certain limitations on our ability to sell assets. The credit facility also contains customary events of default, including payment defaults, material inaccuracy of representations and warranties, covenant defaults, bankruptcy proceedings, certain judgments, Employee Retirement Income Security Act of 1974 defaults and change of control.

WISCONSIN PUBLIC SERVICE CORP 10-K