Commonwealth Edison to sell $1.2 billion mortgage bonds

By Lisa Kerner

Charlotte, N.C., June 20 – Commonwealth Edison Co. plans to price a $1.2 billion offering of mortgage bonds, series 120 and 121, according to a 424B2 filing with the Securities and Exchange Commission.

Citigroup Global Markets Inc., Mizuho Securities USA Inc., U.S. Bancorp Investments Inc., CIBC Capital Markets, Credit Agricole CIB and PNC Capital Markets LLC are the joint bookrunners.

Santander Investment Securities Inc. is the senior co-manager.

A portion of the proceeds will be used to refinance the $415 million outstanding principal amount of the company’s 5.95% first mortgage bonds, series 104, due Aug. 15, 2016, and the $250 million outstanding principal amount of its 1.95% first mortgage bonds, series 111, due Sept. 1, 2016.

The company plans to use the remaining portion of the proceeds to repay a portion of its outstanding commercial paper obligations and for general corporate purposes.

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

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