Wed, Aug 14, 8:35 PM (153 days ago)
On August 14, 2024, DPL Inc.'s subsidiary, The Dayton Power and Light Company (AES Ohio), entered into a $150 million term loan agreement with PNC Bank and US Bank, among others. This 364-day senior unsecured loan is intended for general corporate purposes and offers interest options based on either a base rate or Term SOFR rate, plus an applicable margin. The loan agreement includes standard covenants, notably a financial covenant limiting AES Ohio's consolidated total debt to consolidated total capitalization ratio to a maximum of 0.67:1.00. The agreement reflects ongoing banking relationships with lenders involved. This move could enhance AES Ohio's liquidity and operational flexibility, potentially impacting its financial position positively. The stock value may be influenced by investor perception of the company's strategic funding approach.