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BERKSHIRE HATHAWAY ENERGY CO FILES (8-K) Disclosing Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

June 27, 2014



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

On June 27, 2014, Berkshire Hathaway Energy Company ("BHE") entered into an unsecured revolving credit facility allowing BHE to borrow, repay and reborrow, from time to time, up to $1.4 billion prior to June 28, 2017. BHE may increase the size of the facility by an amount not exceeding $200 million.

The facility is for general corporate purposes and also supports BHE's commercial paper program and provides for the issuance of letters of credit. Borrowings under the facility will bear interest at an applicable base rate (defined as the highest of (1) the reference rate of interest of Union Bank, N.A., (2) the federal funds rate plus 1/2 of 1% and (3) the one month LIBOR plus 1%) or a LIBOR rate, plus a margin. The margin varies based upon BHE's senior, unsecured, long-term debt credit ratings by S&P and Moody's.

Borrowings under the facility are conditioned on BHE's ability to make certain representations at the time each such borrowing is made. The facility also includes customary covenants, including a financial maintenance covenant that requires BHE to maintain a ratio of consolidated indebtedness to consolidated capital, determined as of the last day of each fiscal quarter, not to exceed 0.70 to 1.00.

The description above is a summary of the facility and is qualified in its entirety by the complete text of the Credit Agreement, a copy of which is attached to this report as Exhibit 10.1 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits Exhibit No. Description 10.1 $1,400,000,000 Credit Agreement, dated as of June 27, 2014, among Berkshire Hathaway Energy Company, as the borrower, the Initial Lenders, Union Bank, N.A., as administrative agent and swingline lender and the LC Issuing Banks. 2



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Source: Edgar Glimpses


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