Tri-state generation and transmission association, inc. private company information – bloomberg gas house gang

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Tri-State Generation and Transmission Association, Inc. operates as a wholesale electric power generation and transmission cooperative. It has a generation capacity of 2,808 megawatts (MWs), including 1,835 MWs from coal-fired base load facilities; and 973 MWs from gas/oil-fired facilities. The company also holds ownership or capacity interests in approximately 5,562 miles of high-voltage transmission lines; and equipment ownership in approximately 378 substations and switchyards. It provides electricity to 43 member distribution systems that serve approximately 615,000 retail electric meters in approximately 200,000 square miles in Colorado, Nebraska, New Mexico, and Wyoming, as well as por…

Tri-State Generation and Transmission Association, Inc. operates as a wholesale electric power generation and transmission cooperative. It has a generation capacity of 2,808 megawatts (MWs), including 1,835 MWs from coal-fired base load facilities; and 973 MWs from gas/oil-fired facilities. The company also holds ownership or capacity interests in approximately 5,562 miles of high-voltage transmission lines; and equipment ownership in approximately 378 substations and switchyards. It provides electricity to 43 member distribution systems that serve approximately 615,000 retail electric meters in approximately 200,000 square miles in Colorado, Nebraska, New Mexico, and Wyoming, as well as portions of Arizona, Montana, and Utah. In addition, the company provides electric power to non-members at contractual rates under long-term arrangements and at market prices in short-term sale transactions. Tri-State Generation and Transmission Association, Inc. was founded in 1952 and is headquartered in Westminster, Colorado.

On April 25, 2018, Tri-State Generation and Transmission Association, Inc. (Tri-State) entered into a secured revolving credit facility with nine lenders, including National Rural Utilities Cooperative Finance Corporation, as lead arranger and administrative agent, in the amount of $650 million. On April 25, 2018, Tri-States $750 million secured revolving credit agreement, dated July 29, 2011, with Bank of America, N.A., as administrative agent, was terminated and replaced by the 2018 Credit Agreement. The 2018 Credit Agreement can be used to advance funds for working capital purposes, issue letters of credit thereunder and support the issuance of up to $500 million of commercial paper. The 2018 Credit Agreement has a maturity date of April 25, 2023, unless extended as provided therein. The 2018 Credit Agreement includes a swingline sublimit of $100 million, a letter of credit sublimit of $75 million, and a commercial paper back-up sublimit of $500 million. The 2018 Credit Agreement is secured under Tri-States Indenture, dated effective as of December 15, 1999 (Master Indenture), between Tri-State and Wells Fargo Bank National Association, as successor trustee (the Trustee). Funds advanced under the 2018 Credit Agreement bear interest either at an adjusted LIBOR rate or an alternate base rate, at Tri-States option. The adjusted LIBOR rate is the LIBOR rate for the term of the advance plus a margin (currently 1.00%) based on Tri-States credit ratings. The alternate base rate is the highest of the federal funds rate plus 12 of 1.00%, the prime rate, and the one-month LIBOR rate plus 1.00% and plus a margin (currently 0%) based on Tri-States credit ratings.