Item 1.01. Entry into a Material Definitive Agreement
OGE Energy Corp. (the "Company") is the parent company ofOklahoma Gas and Electric Company ("OG&E"), a regulated electric utility with approximately 865,000 customers inOklahoma and westernArkansas . In addition, the Company holds a 25.5 percent limited partner interest and a 50 percent general partner interest in Enable Midstream Partners, LP. As previously disclosed, inMarch 2017 , the Company andOG&E each entered into five-year$450.0 million revolving credit facilities. Each of the facilities contained an option, which could be exercised up to two times, to extend the term of the respective facility for an additional year. EffectiveJanuary 12, 2021 , the Company andOG&E utilized the second of those extensions to extend the maturity of their respective credit facility fromMarch 8, 2023 toMarch 8, 2024 . Commitments of a single existing lender with respect to$50.0 million of the Company's credit facility, however, were not extended and, unless the non-extending lender is replaced in accordance with the terms of the credit facility, such commitments will expireMarch 8, 2023 . The non-extending lender is not party to theOG&E facility. OnJanuary 12, 2021 , the Company andOG&E each entered into a First Amendment (collectively the "Amendment") to the revolving credit facilities (as amended, collectively the "Credit Agreement"). The Amendment gives each of the Company andOG&E the option of extending such commitments for up to two additional one-year periods. In addition, the Amendment addresses the establishment of an alternative rate of interest upon the occurrence of certain events related to the phase out of LIBOR and makes certain other administrative modifications to the Credit Agreement. The terms of the credit facilities were otherwise unchanged. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the complete terms of each Amendment, copies of which are filed as Exhibits 10.02 and 10.03 to this Current Report, which are incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits Exhibit Number Description 10.01 Letter of extension dated as of
andOG&E's credit agreements dated
as of
among the Company andOG&E
, for their respective credit
facilit y , the Lenders
thereto,
Association, as Administrative
Agent,
Syndication Agent, and Mizuho
Royal Bank of Canada andU.S. Bank
National Association, as
Co-Documentation Agents. 10.02 First Amendment dated as of
dated as ofMarch 8, 2017 , by and
among
Wells Fargo Bank , National
Association, as Administrative Agent,
JPMorgan Chase Bank, N.A ., as
Syndication Agent, and
Ltd.,MUFG Union Bank, N.A. , Royal
National Association, as
Co-Documentation Agents.
10.03 First Amendment dated as of
dated as ofMarch 8, 2017 , by and
among the Company, the Lenders
thereto,Wells Fargo Bank ,
National Association, as Administrative
Agent,JPMorgan Chase Bank, N.A .,
as Syndication Agent, and Mizuho
Bank, Ltd. ,MUFG Union Bank, N.A. ,
Royal Bank of Canada and
National Association, as
Co-Documentation Agents.
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the cover page XBRL tags are
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