Notice of change to bank credit arrangements
The Salt River Project Agricultural Improvement and Power District's Board of Directors authorized, on June 5, 2017, two Revolving Credit Agreements, to be dated and effective on or about June 29, 2017, by and among the District and U.S. Bank National Association, as agent and lender, and by and among the District and JP Morgan Chase Bank National Association, as agent and lender.
The U.S. Bank Agreement expires on or about June 29, 2020 and has an available commitment of $150,000,000. The JPM Agreement also expires on or about June 29, 2020 and has an available commitment of $350,000,000. The U.S. Bank Agreement and JPM Agreement collectively will replace the existing $100,000,000 Revolving Credit Agreement dated May 1, 2012 with U.S. Bank as agent and lender and the existing $400,000,000 Revolving Credit Agreement with Royal Bank of Canada as agent and lender when the new revolving credit agreements become effective on or about June 29, 2017.
The complete Notice of Change to Bank Credit Arrangements is available for review.