SCE-B Southern California Edison Trust

Item  1.01Entry into Material Definitive Agreements

On November 7, 2022, Edison International entered into a Term Loan Credit Agreement (the "Edison International Term Loan Agreement") with the lenders named therein and PNC Bank, National Association, as administrative agent. The Edison International Term Loan Agreement provides for a $400 million term loan that matures on November 6, 2023. The term loan may be prepaid in whole or in part without any premium or penalty.

Edison International expects to use the proceeds of the term loan for general corporate purposes. The term loan bears interest at either an adjusted term rate based on the secured overnight financing rate ("Adjusted Term SOFR") plus a margin of 0.95% or a base rate with no applicable margin. The Edison International Term Loan Agreement contains customary representations and warranties, covenants and events of default and has one financial covenant, requiring that Edison International maintain at the end of each quarter a ratio of consolidated total recourse indebtedness to consolidated capital at a level that does not exceed 0.70 to 1.0.

Also on November 7, 2022, Southern California Edison Company ("SCE") entered into a Term Loan Credit Agreement (the "SCE Term Loan Agreement" and together with the Edison International Term Loan Agreement, the "Term Loan Agreements") with the lenders named therein and Truist Bank, as administrative agent. The SCE Term Loan Agreement provides for a $600 million term loan that matures on May 7, 2024. The term loan may be prepaid in whole or in part without any premium or penalty.

SCE expects to use the proceeds of the term loan for general corporate purposes. The term loan bears interest at either Adjusted Term SOFR plus a margin of 0.90% or a base rate with no applicable margin. The SCE Term Loan Agreement contains customary representations and warranties, covenants and events of default and has one financial covenant, requiring that SCE maintain at the end of each quarter a ratio of consolidated total indebtedness to consolidated capital at a level that does not exceed 0.65 to 1.0.

The lenders that are a party to the Term Loan Agreements or their affiliates have in the past performed, and may in the future from time to time perform, investment banking, financial advisory, lending and/or commercial banking services for Edison International and/or SCE and certain of their respective subsidiaries and affiliates, for which service they have in the past received, and may in the future receive, customary compensation and reimbursement of expenses.

The foregoing descriptions are qualified in their entirety by reference to the full text of the Term Loan Agreements, filed as Exhibit 10.1 and 10.2 hereto and incorporated by reference herein.