v3.26.1
Debt and Credit Agreements
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Debt and Credit Agreements Debt and Credit Agreements
Long-Term Debt
During the six months ended June 30, 2026, SCE issued the following first and refunding mortgage bonds:
DescriptionMonth of IssuanceRateMaturity DateAmount
(in millions)
Series 2024DMarch 20265.15%2029$600 
Series 2026AMarch 20264.80%2033600 
Series 2026BMay 20264.95%2031500 
Total$1,700 
The proceeds were used to repay commercial paper borrowings and for general corporate purposes.
In February 2026, Edison International Parent issued $550 million of 4.80% senior notes due in 2031 and in May 2026 issued $500 million of 5.00% senior notes due in 2028. The proceeds were used to repay commercial paper and for general corporate purposes.
Credit Agreements and Short-Term Debt
The following table summarizes the status of the credit facilities at June 30, 2026:
(in millions, except for rates)
Borrower1
Termination DateCommitment
Commercial Paper Outstanding2
Letters of Credit OutstandingAmount Available
Edison International Parent
May 2030$1,500 $180 $— $1,320 
SCE
May 20303,350 742 2 2,606 
Total Edison International$4,850 $922 $2 $3,926 
1The aggregate maximum principal amount under the Edison International Parent and SCE revolving credit facilities may be increased up to $2.0 billion and $4.0 billion, respectively, provided that additional lender commitments are obtained. In the second quarter of 2026, Edison International Parent and SCE amended their credit facilities to extend the maturity dates to May 2030, with additional one year extension options.
2The weighted-average interest rates on commercial paper outstanding at June 30, 2026 were 4.15% for Edison International Parent and 4.31% for SCE.
Term Loan
In February 2026, SCE entered into a term loan agreement to borrow $1.5 billion maturing in March 2027 with a variable interest rate based on SOFR plus 1.00%. The proceeds were used for general corporate and working capital purposes, including the repayment of all borrowings under the $300 million unsecured term loan agreement, dated as of February 11, 2026.
Uncommitted Letters of Credit
SCE entered into agreements with certain lenders for bilateral unsecured standby letters of credit ("SBLC") with a total capacity of $635 million that is uncommitted and supported by reimbursement agreements. The SBLCs are not subject to any collateral or security requirements. At June 30, 2026, SCE had $111 million outstanding under these agreements, which expire between July 2026 and July 2027.
Debt Financing Subsequent to June 30, 2026
In July 2026, SCE Recovery Funding LLC issued $2.0 billion of Senior Secured Recovery Bonds, Series 2026-A, in three tranches and used the proceeds to acquire SCE's right, title, and interest in and to the Recovery Property. The three tranches of Senior Secured Recovery Bonds consisted of $600 million, 5.39% with final maturity in 2045, $645 million, 6.04% with final maturity in 2054, and $709 million, 6.09% with final maturity in 2061. For further details, see Note 3. SCE used the proceeds it received from the sale of Recovery Property to finance cost recoveries authorized under the Woolsey Settlement Agreement.