E. Ky. Power obtains $450 million line of credit

East Kentucky Power Cooperative announced Wednesday that it has closed on a three-year $450 million revolving line of credit to use for short-term financing of capital projects, among other things.

A statement from the cooperative said the unsecured financing replaces an existing $650 million line of credit that expired in the fall.

Eight financial institutions participated, with the National Rural Utilities Cooperative Finance Corporation, KeyBank National Association and PNC Capital Markets serving as the lead arrangers, according to the news release.