Energy company establishes $123 million credit facility with 33 banks in Illinois, Pennsylvania, Maryland and New Jersey
As part of its commitment to investing in the communities it serves, Exelon arranged $123 million in credit lines with 33 community and minority-owned banks in Illinois, Pennsylvania, Maryland and New Jersey. The credit facility represents a $5 million increase and an addition of three new participating lenders from last year.
“Exelon's minority and community banking program, now in its tenth year, exemplifies our commitment to doing business with diverse suppliers,” said Jonathan W. Thayer, executive vice president and CFO of Exelon. “We view our diverse communities as valued partners in our business. The individuals and businesses in those communities — and the diverse perspectives they bring — are essential to our success.”
Unique to the energy industry, Exelon's minority and community banking program has grown substantially since its launch in 2003 with a $36 million credit facility from eight community banks. Administered by JP Morgan Chase since its inception, the program has more than tripled in credit facility size and more than quadrupled the number of participating banks.
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