Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 243

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 243
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 the next five years are as follows:

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Table of Contents

(in millions)EdisonInternationalSCE2025$2,049 $1,249 20261,900 1,900 20272,501 1,901 20282,942 1,792 20293,363 2,313 Debt Financing Subsequent to December 31, 2024In January 2025, SCE issued $850 million of 5.45% first and refunding mortgage bonds due in 2035 and $650 million of 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