To support additional commercial paper

[Table of Contents](#i59ca7ab3cc784e42904d434b0008a7a9_10)Notes to Consolidated Financial Statements(Dollars in millions, unless otherwise noted)  
Note 17 — Debt and Credit AgreementsAs of December 31, 2021, we had the following aggregate bank commitments, credit facility borrowings and available capacity under our respective credit facilities:

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|  |  |  |  |  |  |  |  | Available Capacity as of December 31, 2021 |
| Facility Type |  | Aggregate BankCommitment(b) |  | Facility Draws |  | OutstandingLetters of Credit |  | Actual |  | To SupportAdditionalCommercialPaper |
| Syndicated Revolver(a) |  | $ | 5,300  |  |  | $ | —  |  |  | $ | 1,230  |  |  | $ | 4,070  |  |  | $ | 3,368  |  |
| Bilaterals |  | 1,200  |  |  | —  |  |  | 1,029  |  |  | 171  |  |  | —  |  |
| Project Finance |  | 131  |  |  | —  |  |  | 116  |  |  | 15  |  |  | —  |  |

\_\_\_\_\_\_\_\_\_\_(a)Our syndicated revolving credit facility was replaced by the $3.5 billion 5-year revolving credit agreement entered into on February 1, 2022 in connection with our separation. (b)Excludes $44 million of credit facility agreements arranged at minority and community banks. These facilities expire on October 7, 2022 and are solely utilized to issue letters of credit. As of December 31, 2021, letters of credit issued under these facilities totaled $5 million.Impact of Separation from ExelonIn connection with our separation from Exelon, we entered into two new credit agreements that replaced our $5.3 billion syndicated revolving credit facility, On February 1, 2022, we entered into a new credit agreement establishing a $3.5 billion five-year revolving credit facility at a variable interest rate of SOFR plus 1.275% and on February 9, 2022 we entered into a $1 billion five-year liquidity facility with the primary purpose of supporting our letter of credit issuances. Many of our bilateral credit agreements remain in effect. See below for additional details. Bilateral Credit AgreementsThe following table reflects the bilateral credit agreements at December 31, 2021:

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| Date Initiated |   |  | Latest Amendment Date |  | Maturity Date(a) |  | Amount |
| January 11, 2013 | (b)(c) |  | March 1, 2021 |  | March 1, 2023 |  | $ | 100  |  |
| January 5, 2016 | (b) |  | April 2, 2021 |  | April 5, 2023 |  | 150  |  |
| February 21, 2019 | (b)(c) |  | March 31, 2021 |  | March 31, 2022 |  | 100  |  |
| October 25, 2019 | (b) |  | N/A |  | N/A |  | 200  |  |
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| November 20, 2019 | (b) |  | N/A |  | N/A |  | 300  |  |
| November 21, 2019 | (b) |  | N/A |  | N/A |  | 150  |  |
| November 21, 2019 | (b) |  | November 21, 2021 |  | November 21, 2022 |  | 100  |  |
| May 15, 2020 | (b)(d) |  | N/A |  | N/A |  | 100  |  |

\_\_\_\_\_\_\_\_\_\_(a)Credit facilities that do not contain a maturity date are specific to the agreements set within each contract. In some instances, credit facilities are automatically renewed based on the contingency standards set within the specific agreement.(b)Bilateral credit agreements solely support the issuance of letters of credit and do not back our commercial paper program.(c)The bilateral credit agreement was terminated on January 31, 2022.(d)On February 9, 2022, the bilateral credit agreement increased to $200 million.  
Borrowings under our revolving credit agreement bear interest at a rate based upon either the prime rate or a LIBOR-based rate, plus an adder based upon our credit rating. The adders for the prime based borrowings and LIBOR-based borrowings are 27.5 basis points and 127.5 basis points, respectively.If we lose our investment grade rating, the maximum adders for prime rate borrowings and LIBOR-based rate borrowings would be 65 basis points and 165 basis points, respectively. The credit agreements also require the borrower to pay a facility fee based upon the aggregate commitments. The fee varies depending upon the respective credit ratings of the borrower.132  
  
  

