Consolidated Edison enters $3.5B credit facility with Bank of America…
Consolidated Edison, CECONY, and Orange and Rockland Utilities entered into a new $3.5 billion credit agreement on March 11, 2026, with Bank of America serving as administrative agent. The new credit facility terminated two previous credit agreements dated March 27, 2023 and March 24, 2025, with the full $3.5 billion available to CECONY, $800 million (expandable to $1 billion) to Con Edison, and $250 million to O&R.
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Our Take
→Con Edison replaces two separate credit facilities with a single $3.5B revolver, consolidating liquidity across the parent and its New York/New Jersey utility subsidiaries. Regulated utilities rarely make noise with credit agreements, but the timing—just before spring construction season—hints at funding flexibility for grid modernization and storm hardening projects that have ballooned since state climate mandates tightened.
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