Item 8.01 Other Events


PSEG and PSE&G

Following the closing of the sale of our Fossil units in February 2022, PSEG has been active in financing activities to support its business going forward. In particular:



    •     As previously disclosed, in October 2021 PSEG Power redeemed its
          remaining outstanding long-term debt. On March 9, 2022, PSEG Power
          entered into a three-year, unsecured $1.25 billion Term Loan Agreement,
          which has been fully drawn.



    •     Consistent with its past financing practice, PSEG continues to maintain
          sizeable credit facilities to support its financial and liquidity
          profile, and PSEG has recently extended its credit facilities. On
          March 8, 2022, each of PSEG and its subsidiary, PSEG Power LLC (PSEG
          Power), amended, consolidated and restated, four existing unsecured
          revolving credit agreements, providing for loans and letters of credit,
          with total unsecured borrowing capacity of $3.4 billion into a single
          revolving credit agreement (Master Credit Facility). The Master Credit
          Facility extends the maturity of the existing credit agreements through
          March 8, 2027 and provides for $2.75 billion of unsecured borrowing
          capacity, with an initial PSEG
          sub-limit
          of $1.5 billion and an initial PSEG Power
          sub-limit
          of $1.25 billion. The Master Credit Facility permits adjustments of the
          initial
          sub-limits,
          provided that the PSEG
          sub-limit,
          and the aggregate borrowings of PSEG and PSEG Power under the Master
          Credit Facility, may not exceed $2.75 billion, and the PSEG Power
          sub-limit
          may not exceed $1.75 billion. The PSEG
          sub-limit
          includes a sustainability linked pricing mechanism based on achieving
          targeted reductions of methane emissions. These credit agreement
          modifications and consolidations follow the close of the sale of the
          6,750 megawatt PSEG Fossil portfolio and are another step in the
          simplification of PSEG's business model and balance sheet.



    •     Similarly, on March 8, 2022, PSE&G amended its existing $600 million
          revolving credit agreement, providing for loans and letters of credit.
          The amended credit agreement extends the maturity of the existing credit
          agreement through March 8, 2027 and provides for $1.0 billion of
          unsecured borrowing capacity.



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