Shearman & Sterling advised Consolidated Edison as Borrower on a $400 million 364-day senior unsecured term loan credit facility. The credit facility also provides the Borrower with an ability to borrow one or more tranches of incremental term loans up to $200 million, and the proceeds will be used by the Borrower for its general corporate purposes.
Headquartered in New York, New York, Consolidated Edison, engages in regulated electric, gas and steam delivery businesses in the United States. Further, the company owns, operates, and develops renewable and energy infrastructure projects; and provides energy-related products and services to wholesale and retail customers, as well as invests in electric and gas transmission projects.
The Shearman & Sterling team was supported by associates Greg Wolszczak and Christina Simpson.