Edison International (NYSE: EIX) adds $900M term loan for corporate needs

Rhea-AI Filing Summary

Edison International has entered into a new $900 million term loan credit agreement with a syndicate of lenders and Wells Fargo Bank as administrative agent. The term loan matures on December 22, 2026 and can be prepaid at any time without premium or penalty, giving the company flexibility in managing this debt.

The borrowing will be used for general corporate and working capital purposes, which may include repaying other debt. Interest is based on either adjusted term SOFR plus 1.25% or a base rate plus 0.25%. The agreement includes customary covenants and a key financial test requiring consolidated total recourse indebtedness to consolidated capital not to exceed 0.70 to 1.0 at each quarter-end.

The lenders under this term loan are also lenders under Edison International’s existing $1.5 billion revolving credit facility and Southern California Edison’s $3.35 billion revolving credit facility, reflecting ongoing relationships with major banking partners.

Insights

Utility credit analyst

Edison International adds a $900M term loan with a 2026 maturity and standard covenant.

Edison International has arranged a $900 million term loan maturing on December 22, 2026, providing committed funding for general corporate and working capital uses, including potential debt repayment. The ability to prepay at any time without premium or penalty gives flexibility to refinance or reduce this borrowing if conditions change.

Interest is tied to either adjusted term SOFR plus 1.25% or a base rate plus 0.25%, which is typical floating-rate utility funding and exposes costs to benchmark rate movements. The single financial covenant requires a consolidated total recourse indebtedness to consolidated capital ratio not exceeding 0.70 to 1.0, which is a standard leverage constraint for an investment‑grade utility structure.

The banks involved already participate in Edison International’s $1.5 billion revolving credit facility and Southern California Edison’s $3.35 billion facility, signaling continuity in its banking group. Overall, this represents routine balance sheet and liquidity management rather than a transformative change, though future disclosures will show how the proceeds affect debt mix and leverage within the stated covenant limit.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

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Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

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Date of Report (Date of earliest event reported): December 23, 2025

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EDISON INTERNATIONAL

(Exact name of registrant as specified in its charter)

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California	001-9936	95-4137452
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification No.)

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2244 Walnut Grove Avenue

(P.O. Box 976)

Rosemead, California 91770

(Address of principal executive offices, including zip code)

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(626) 302-2222

(Registrant's telephone number, including area code)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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[ ☐ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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[ ☐ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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[ ☐ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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[ ☐ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	EIX	NYSE	LLC

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

​ Emerging growth company                              ☐

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.           ☐

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Item  1.01Entry into a Material Definitive Agreement

On December 23, 2025, Edison International entered into a Term Loan Credit Agreement (the "Term Loan Agreement") with the lenders named therein and Wells Fargo Bank, National Association, as Administrative Agent. The Term Loan Agreement provides for a $900 million term loan that matures on December 22, 2026. The term loan may be prepaid in whole or in part at any time without any premium or penalty. Edison International expects to use the proceeds of the term loan for general corporate and working capital purposes which may include the repayment of debt. The term loan bears interest at either an adjusted term SOFR plus a margin of 1.25% or a base rate plus a margin of 0.25%. The Term Loan Agreement contains customary representations and warranties, covenants and events of default and has one financial covenant, requiring that Edison International maintain at the end of each quarter a ratio of consolidated total recourse indebtedness to consolidated capital at a level that does not exceed 0.70 to 1.0.

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The lenders that are a party to the Term Loan Agreement or their affiliates have in the past performed, and may in the future from time to time perform, investment banking, financial advisory, lending and/or commercial banking services for Edison International and certain of its subsidiaries and affiliates, for which service they have in the past received, and may in the future receive, customary compensation and reimbursement of expenses. In addition, each of the lenders party to the Term Loan Agreement are currently lenders under the $1.5 billion revolving credit facility of Edison International and the $3.35 billion revolving credit facility of its subsidiary, Southern California Edison.

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The foregoing descriptions are qualified in their entirety by reference to the full text of the Term Loan Agreement, filed as Exhibit 10.1 hereto and incorporated by reference herein.

Item  2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

See Item 1.01.

Item  9.01Financial Statements and Exhibits

(d) Exhibits

See the Exhibit Index below.

EXHIBIT INDEX

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Exhibit No.	​ ​ ​	Description
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10.1	​	Term Loan Credit Agreement, dated as of December 23, 2025, among Edison International, the several banks and other financial institutions from time to time parties thereto and Wells Fargo Bank, National Association, as Administrative Agent
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104	​	Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURE

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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​	EDISON INTERNATIONAL
​	(Registrant)
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​	/s/ Kara G. Ryan
​	Kara G. Ryan
​	Vice President and Controller

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Date: December 23, 2025

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FAQ

What new financing did Edison International (EIX) arrange?

Edison International entered into a $900 million term loan credit agreement with various lenders and Wells Fargo Bank, National Association, acting as administrative agent.

When does Edison International’s new $900 million term loan mature?

The new term loan matures on December 22, 2026, giving Edison International roughly one year of additional committed funding from the date of the agreement.

What will Edison International use the $900 million term loan for?

Edison International expects to use the proceeds for general corporate and working capital purposes, which may include the repayment of debt.

What interest rate applies to Edison International’s new term loan?

The term loan bears interest at either adjusted term SOFR plus 1.25% or a base rate plus 0.25%, depending on the option selected.

Are there financial covenants in Edison International’s new term loan agreement?

Yes. Edison International must maintain a ratio of consolidated total recourse indebtedness to consolidated capital not exceeding 0.70 to 1.0 at the end of each quarter.

Can Edison International prepay the new $900 million term loan?

Yes. The term loan may be prepaid in whole or in part at any time without any premium or penalty.

How does this term loan relate to Edison International’s other credit facilities?

The lenders under the term loan are also lenders under Edison International’s $1.5 billion revolving credit facility and Southern California Edison’s $3.35 billion revolving credit facility, reflecting ongoing banking relationships.