Oncor Electric Delivery entered into a term loan credit agreement with Wells Fargo Bank as administrative agent.

The agreement provides for a springing-lien term loan credit facility in an aggregate principal amount of $275 million. The term loan agreement has an 18-month term, maturing on March 26, 2019.

Loans bear interest at per annum rates equal to either LIBOR plus a spread ranging from 0.8%-0.9%, depending on whether the loan has become secured, or an alternate base rate (the highest of  the prime rate of Wells Fargo, the federal funds effective rate plus 0.50% and daily one-month LIBOR + 1%).

The agreement provides for a springing-lien term loan. On December 31, 2017, if the obligations under the term loan agreement are outstanding and the obligations under the amended and restated revolving credit agreement, dated October 11, 2011, with JPMorgan Chase Bank as administrative agent, then the obligations under the term loan agreement will become secured by a lien on all property acquired or constructed by Oncor for the transmission and distribution of electric energy, mortgaged as described under the deed of trust, security agreement and fixture filing dated as of May 15, 2008, from Oncor to The Bank of New York Mellon Trust as collateral agent.