U.S. Midwest Power Company Announces $500 Million Unsecured Loan for ₩20 Trillion Equipment Investment and Profit Growth

Evergy, Inc. (NASDAQ: EVRG) on February 11 signed a $500 million unsecured term loan facility (approximately KRW 670 billion) with a banking syndicate led by Wells Fargo. The company plans to use the proceeds for capital expenditures, working capital and repayment of an existing $55 million loan.

For fiscal 2025, Evergy reported GAAP net income of $855.6 million (around KRW 1.1 trillion), or $3.66 per share, a slight year-over-year decline. Adjusted earnings per share rose modestly to $3.83, and the company provided 2026 adjusted EPS guidance of $4.14–$4.34.

Evergy also unveiled a capital investment program of approximately $21.6 billion (about KRW 29 trillion) for 2026–2030, and declared a quarterly dividend of $0.695 per share, payable March 20.

On the Nasdaq, Evergy’s shares have climbed for five consecutive trading days through February 13, reaching a 52-week high; the relative strength index has likewise improved, reflecting healthy momentum within the U.S. electric utility sector.

This new $500 million facility replaces the $55 million short-term loan secured in January, enhancing near-term liquidity and supporting future capital investment capacity.

Evergy is a regulated electric utility serving roughly 1.7 million customers in Kansas and Missouri—a business model that demands substantial long-term investment in generation, transmission and distribution assets. U.S. regulated utilities have generally maintained stable cash flows and dividend policies amid inflationary and higher-rate environments, underpinned by regulatory rate approvals and long-term investment plans.