Eversheds Sutherland Coop Law Blog
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GTC Extends $275 Million Syndication with CFC

Georgia Transmission Corporation (GTC), based in Tucker, Georgia, obtained an “amend and extend” transaction that extended the maturity date of a $275 million, five-year syndicated revolving credit facility with the National Rural Utilities Cooperative Finance Corporation (CFC) by two years.  The facility was originally arranged in November 2011.  GTC uses the facility primarily...

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...

Arkansas Coop Extends $250 Million Syndication with CFC

Arkansas Electric Cooperative Corporation recently closed an Amend and Extend agreement with the National Rural Utilities Cooperative Financing Corporation (CFC), locking in current pricing and extending the maturity date of its $250 million credit facility to June 2016.  Both parties were pleased with the speed and efficiency of utilizing the Amend and Extend transaction, which was...

Indiana Coop and CFC “Amend & Extend” Line of Credit

Hoosier Energy Rural Electric Cooperative (Hoosier), based in Indiana, and the National Rural Utilities Cooperative Finance Corporation (CFC) have finalized a deal to “amend and extend” a $400 million line of credit.  The line of credit, which has an original maturity date of August 11, 2016, will now remain in place through April 30, 2018.  Hoosier’s plans for the credit line...

CFC Finalizes “Amend and Extend” Deal for Ohio G&T

The National Rural Utilities Cooperative Finance Corporation (CFC) recently closed an “amend and extend” (A&E) transaction for Columbus, Ohio-based Buckeye Power Inc.  An A&E transaction allows the borrower to change the terms of an existing credit agreement, such as the maturity date and pricing, typically in exchange for a fee and, unlike refinancing, the original loan...

Alaskan Coop Closes Deal with CFC for $100 Million Facility

Chugach Electric Association, an Anchorage, Alaska-based coop, closed an “Amend and Extend” syndicated transaction with the National Rural Utilities Cooperative Finance Corporation (CFC).  The coop’s CFO, Mike Cunningham, spoke highly of the experience with CFC stating that “[t]his facility provided us with low-priced, short-term financing for our power plant construction.” ...