XML 180 R31.htm IDEA: XBRL DOCUMENT
v3.20.1

Short-Term Debt | 12 Months Ended
--- | ---
Dec. 31, 2019
22. Short-Term Debt |
Short-Term Debt | 22. SHORT-TERM DEBT Emera’s short-term borrowings consist of commercial paper issuances, advances on revolving and non-revolving credit facilities and short-term notes. Short-term debt and the related weighted-average interest rates as at December 31 consisted of the following:
millions of Canadian dollars | 2019 | Weighted average interest rate | 2018 | Weighted average interest rate
TECO Finance |  |  |  |  |  |  |  |
Advances on revolving credit and term facilities | $ | 656 | 2.39 | % | $ | 805 | 3.43 | %
Tampa Electric Company ("TEC") |  |  |  |  |  |  |  |
Advances on accounts receivable and revolving credit facilities |  | 452 | 2.56 | % |  | 302 | 3.10 | %
Emera Inc. |  |  |  |  |  |  |  |
Non-revolving term facility |  | 399 | 2.69 | % |  |  |  |
Bank indebtedness |  | 6 | - | % |  | - | - | %
GBPC |  |  |  |  |  |  |  |
Advances on revolving credit facilities |  | 10 | 5.25 | % |  | - | - | %
NMGC |  |  |  |  |  |  |  |
Advances on revolving credit facilities |  | 8 | 2.70 | % |  | 79 | 3.40 | %
NSPI |  |  |  |  |  |  |  |
Bank indebtedness |  | 6 | - | % |  | - | - | %
Short-term debt | $ | 1,537 |  |  | $ | 1,186 |  |
The Company’s total short-term revolving and non-revolving credit facilities, outstanding borrowings and available capacity as at December 31 were as follows:
millions of Canadian dollars | Maturity |  | 2019 |  | 2018
TECO Energy/TECO Finance - term credit facility | 2020 | $ | 649 | $ | 682
TECO Energy/TECO Finance - revolving credit facility | 2022 |  | 520 |  | 546
Tampa Electric Company - revolving credit facility | 2022 |  | 520 |  | 443
Emera Inc. - non-revolving term facility | 2020 |  | 400 |  | -
Tampa Electric Company - accounts receivable revolving credit facility | 2021 |  | 195 |  | 205
NMGC - revolving credit facility | 2022 |  | 162 |  | 171
GBPC - revolving credit facility | on demand |  | 17 |  | 18
Total |  |  | 2,463 |  | 2,065
Less: |  |  |  |  |
Advances under revolving credit and term facilities |  |  | 1,525 |  | 1,186
Letters of credit issued within the credit facilities |  |  | 3 |  | 3
Total advances under available facilities |  |  | 1,528 |  | 1,189
Available capacity under existing agreements |  | $ | 935 | $ | 876
The weighted average interest rate on outstanding short-term debt at December 31, 2019 was 2.54 per cent (2018 – 3.34 per cent). Recent Significant Financing Activities by Segment Florida Electric Utilities On February 6, 2020, TEC entered into a $300 million USD non-revolving credit agreement with a maturity date of February 4, 202 1. The credit agreement contains customary representations and warranties, events of default, financial and other covenants and bears interest at LIBOR, prime rate or the federal funds rate, plus a margin. On December 19, 2019, TEC increased its $325 million USD revolving credit facility by $75 million USD to $400 million USD. There were no other changes in commercial terms. Other On December 16, 2019, Emera entered int o a $400 million non-revolving credit agreement with a maturity date of December 15, 2020. The credit agreement contains customary representations and warranties, events of default, financial and other covenants and bears interest at Bankers Acceptance rates or prime rate advances, plus a margin. On March 7, 2019, TECO Energy/Finance extended the maturity date of its $500 million USD credit facility from March 8, 2019 to March 5, 2020. There were no other significant changes in commercial te rms from the prior agreement.

X
- References No definition available. + Details
Name: | us-gaap_ShortTermBorrowingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_ShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration