Tucson Electric Power Co: amends and restates $350,000,000 credit facility

What happened Tucson Electric Power Co filed an 8-K reporting that on Oct 15, 2026 it entered into a second amended and restated credit agreement with MUFG Bank, Ltd., as administrative agent, and a group of lenders (the 2026 Credit Agreement). The 2026 Credit Agreement amends and restates the prior credit facility and provides for a $350,000,000 revolving credit with a $15,000,000 swingline sublimit and a $50,000,000 letter of credit sublimit.

Key details

• The facility expires on Oct 15, 2031, and the final maturity date can be extended by two one-year extensions if certain conditions are satisfied.
• The agreement permits TEP to request increases in aggregate commitments up to $50,000,000 on no more than two occasions, subject to conditions.
• Borrowings bear interest at a spread over SOFR or an Alternate Base Rate; the current rates are Term SOFR plus 1.00% for SOFR loans or Alternate Base Rate plus 0.00% for Alternate Base Rate loans.
• The credit agreement is unsecured, ranks pari passu with TEP’s other senior unsecured debt, contains covenants (including a maximum leverage ratio of 0.65 to 1.00), and limits dividends to the parent except in additional shares of common stock if TEP is in compliance.

Why it may matter This filing is Item 2.03 (creation of a direct financial obligation), which covers the new credit agreement, its terms, covenants and events of default. A filing does not show why the insider traded or why the company acted.