Item 1.01 Entry into a Material Definitive Agreement.

On December 31, 2019, Avangrid, Inc., a New York corporation (the "Company"), entered into a $500,000,000 term loan agreement with certain lenders from time to time a party thereto and MIZUHO BANK, LTD., as administrative agent (the "Loan Agreement"), that provides for maximum borrowing of up to $500,000,000 in the aggregate. The Loan Agreement contains certain negative covenants, including one that sets the ratio of maximum allowed consolidated debt to consolidated total capitalization at 0.65 to 1.00, for the Company. The termination date for the Loan Agreement is June 30, 2021. The description above is only a summary of the material provisions of the Loan Agreement and does not purport to be complete and is qualified in its entirety by reference to the provisions in such Loan Agreement, a copy of which is attached hereto as Exhibit 10.1.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an

Off-Balance Sheet Arrangement of the Registrant.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.

Item 9.01 Financial Statements and Exhibits.




(d) Exhibits.


  Exhibit No.

  10.1              $500,000,000 Term Loan Agreement, dated as of December 31, 2019,
                  among Avangrid, Inc., the Lenders (as defined therein), and MIZUHO
                  BANK, LTD., as administrative agent.

  104             Cover page Interactive Data File (embedded within the Inline XBRL
                  document).


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