Texas Coop Amends and Extends CFC Facility

South Texas Electric Cooperative (STEC), a generation and transmission cooperative based in Nursery, Texas, recently amended and extended its $350 million revolving syndicated credit facility, for which the National Rural Utilities Cooperative Finance Corporation (CFC) serves as administrative agent and lead arranger.  The transaction allowed CFC to extend the maturity date by two-and-a-half years and improve pricing.  STEC, which serves members in the Eagle Ford Shale region of South Texas, will use the facility to finance its general corporate activities, including some transmission and substation additions.  Click here for more.

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