New Issue: Commonwealth Edison sells $450 million 4.35% 30-year bonds at 130 bps over Treasuries

By Cristal Cody

Tupelo, Miss. Nov. 12 – Commonwealth Edison Co. sold $450 million of 4.35% 30-year first mortgage bonds (A2/A-/A-) at 99.222 to yield 4.397% on Thursday, according to an FWP filing with the Securities and Exchange Commission.

The series 119 first mortgage bonds priced with a spread of 130 basis points over Treasuries.

BofA Merrill Lynch, Citigroup Global Markets Inc., Wells Fargo Securities, LLC, CIBC World Markets Corp. and RBC Capital Markets, LLC were the lead managers.

Proceeds from the deal will be used to repay outstanding commercial paper obligations and for general corporate purposes.

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

Issuer:	Commonwealth Edison Co.
Amount:	$450 million
Maturity:	Nov. 15, 2045
Securities:	First mortgage bonds
Bookrunners:	BofA Merrill Lynch, Citigroup Global Markets Inc., Wells Fargo Securities, LLC, CIBC World Markets Corp., RBC Capital Markets, LLC
Senior manager:	BNY Mellon Capital Markets, LLC
Co-managers:	IFS Securities, Inc., MFR Securities, Inc.
Coupon:	4.35%
Price:	99.222
Yield:	4.397%
Spread:	130 bps over Treasuries
Make-whole call:	Treasuries plus 20 bps before May 15, 2045, then at par plus accrued and unpaid interest
Trade date:	Nov. 12
Settlement date:	Nov. 19
Ratings:	Moody’s: A2
	Standard & Poor’s: A-
	Fitch: A-
Distribution:	SEC registered

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