Details of TEC’s credit facilities and related borrowings are presented in the following table:


	September 30, 2020						December 31, 2019
					Letters						Letters
	Credit		Borrowings		of Credit		Credit		Borrowings		of Credit
(millions)	Facilities		Outstanding ⁽¹⁾		Outstanding		Facilities		Outstanding ⁽¹⁾		Outstanding
5-year facility ⁽²⁾	$	400	$	195	$	1	$	400	$	295	$	1
3-year accounts receivable facility ⁽³⁾		150		40		0		150		53		0
1-year term facility ⁽⁴⁾		300		300		0		0		0		0
Total	$	850	$	535	$	1	$	550	$	348	$	1

(1)	Borrowings outstanding are reported as notes payable.

(2)	This 5-year facility matures March 22, 2022.

(3)	This 3-year facility matures March 22, 2021.

(4)	This 1-year term facility matures on February 4, 2021.

At September 30, 2020, these credit facilities required commitment fees ranging from 12.5 to 35.0 basis points. The weighted-average interest rate on outstanding amounts payable under the credit facilities at September 30, 2020 and December 31, 2019 was 0.82% and 2.56%, respectively.

On July 14, 2020 and October 30, 2020, TEC amended its $150 million accounts receivable collateralized borrowing facility (Loan Agreement) in order to change certain performance ratios. The amended Loan Agreement was effective as of June 30, 2020 and September 30, 2020. TEC was in compliance with the requirements of the Loan Agreement at September 30, 2020. There were no other changes made to the Loan Agreement.

On February 6, 2020, TEC entered into a 364-day, $300 million credit agreement with a group of banks. The credit agreement has a maturity date of February 4, 2021; contains customary representations and warranties, events of default, and financial and other covenants; and provides for interest to accrue at variable rates based on either the London interbank deposit rate, Wells Fargo Bank’s prime rate, or the federal funds rate, plus a margin.