On January 14, 2014, El Paso Electric Co. and The Bank of New York Mellon Trust Company, N.A., as trustee of the Rio Grande Resources Trust II, entered into a second amended and restated credit agreement with JPMorgan Chase Bank, N.A., as administrative agent and issuing bank, Union Bank, N.A., as syndication agent, and various lending banks party thereto. Under the terms of the Agreement, the company has available a $300 million revolving credit facility for a term ending January 14, 2019.

The company may increase the Facility by up to $100 million (up to a total of $400 million) during the term of the Agreement, upon the satisfaction of certain conditions more fully set in the Agreement, including obtaining commitments from lenders or third party financial institutions. In addition, the company may extend the Maturity Date up to two times, in each case for an additional one year period, upon the satisfaction of certain conditions more fully set in the Agreement (each, a Maturity Extension"), including requisite lender approval.