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Published on 2/18/2020 in the Prospect News Investment Grade Daily.

Commonwealth Edison offers first mortgage bonds due 2030, 2050

By Devika Patel

Knoxville, Tenn., Feb. 18 – Commonwealth Edison Co. intends to offer first mortgage bonds in two tranches due 2030 and 2050, according to a 424B2 filing with the Securities and Exchange Commission.

The bonds feature a make-whole call until Dec. 1, 2029 for the 2030 notes and until Sept. 1, 2049 for the 2050 notes and then a par call.

BNP Paribas Securities Corp., BofA Securities, Inc., Citigroup Global Markets Inc., MUFG, Credit Agricole CIB, PNC Capital Markets LLC and SMBC Nikko Securities America Inc. are the bookrunners. Loop Capital Markets LLC and Siebert Williams Shank & Co. LLC are the senior co-managers.

Proceeds will be used to repay some commercial paper obligations and for general corporate purposes.

Commonwealth Edison is a unit of Chicago-based energy provider Exelon Corp.


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