Evergy, Inc. 8-K

What Happened

• Evergy, Inc. announced on February 11, 2026 that it entered into a $500 million unsecured Term Loan Credit Agreement with Wells Fargo Bank, N.A. as administrative agent and the lenders party thereto. The Term Loan Facility expires on February 10, 2027. Evergy expects to use proceeds for working capital, capital expenditures, permitted acquisitions and general corporate purposes, including repayment of a $55 million unsecured prior term loan with Bank of America dated January 7, 2026. The facility includes customary covenants, including a maximum total indebtedness to total capitalization ratio of 0.65 to 1.00 on a consolidated basis.

Key Details

• $500 million unsecured term loan facility; entered Feb 11, 2026; maturity Feb 10, 2027.
• Administrative agent: Wells Fargo Bank, N.A.; lenders are the parties to the agreement.
• Intended uses: working capital, capital expenditures, permitted acquisitions, and repayment of the $55 million prior term loan (Bank of America, dated Jan 7, 2026).
• Covenant: consolidated total indebtedness / total capitalization capped at 0.65 to 1.00.

Why It Matters

• The new facility provides near‑term liquidity and replaces a smaller $55M term loan, supporting operations and planned spending. Because the loan is unsecured and has a one‑year maturity, investors should note the short tenor could require refinancing or repayment by Feb 2027. The leverage covenant (0.65 maximum) is a specific constraint on Evergy’s capital structure that could affect future financing flexibility if leverage approaches that limit.