Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 370

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 370
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 5.90% first and refunding mortgage bonds due in 2055. The proceeds were used to repay commercial paper borrowings and for general corporate purposes.Liens and Security InterestsAlmost all of SCE's properties are subject to a trust indenture lien. SCE has pledged first and refunding mortgage bonds as collateral for borrowed funds obtained from pollution-control bonds issued by government agencies. SCE has a debt covenant that requires a debt to total capitalization ratio to be less than or equal to 0.65 to 1. At December 31, 2024, SCE's debt to total capitalization ratio was 0.58 to 1 and was in compliance with all other financial covenants that affect access to capital. Edison International Parent's credit facility requires a consolidated debt to total capitalization ratio as defined in the applicable agreements of less than or equal to 0.70 to 1. At December 31, 2024, Edison International consolidated debt to total capitalization ratio was 0.65 to 1.Credit Agreements and Short-Term DebtThe following table summarizes the status of the credit facilities at December 31, 2024:(in millions, except for rates)BorrowerTermination DateSOFR plus (bps)CommitmentOutstanding borrowingsOutstanding letters of creditAmount availableEdison International Parent1, 3May 2028128$1,500 $445 $— $1,055 SCE2, 3May 20281083,350 1,260 6 2,084 Total Edison International$4,850 $1,705 $6 $3,139 1At December 31, 2024 and 2023, Edison International Parent had $444 million and $246 million outstanding commercial paper, net of discount of $1 million and zero, at a weighted-average interest rate of 4.86% and 5.82%, respectively.2At December 31, 2024 and 2023, SCE had $1,259 million and $1,554 million outstanding commercial paper, net of discount of $1 million and $4 million, at a weighted-average interest rate of 4.95% and 5.82%, respectively. This includes $706 million and $722 million, at December 31, 2024 and 2023, respectively, outstanding commercial paper reclassified from "Short-term debt" to "Long-term debt" on the consolidated balance