New Issue: Commonwealth Edison prices $550 million 3.7% 10-year bonds at 75 bps spread

By Cristal Cody

Tupelo, Miss., Aug. 7 – Commonwealth Edison Co. sold $550 million of 3.7% 10-year first mortgage bonds (A1/A-/A) at 99.76 to yield 3.729% on Tuesday, according to an FWP filing with the Securities and Exchange Commission.

The first mortgage bonds priced with a spread of 75 basis points over Treasuries.

BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, U.S. Bancorp Investments Inc., CIBC World Markets Corp., Credit Agricole Securities (USA) Inc. and SMBC Nikko Securities America, Inc. were the bookrunners.

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

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

Issuer:	Commonwealth Edison Co.
Amount:	$550 million
Maturity:	Aug. 15, 2028
Securities:	Series 125 first mortgage bonds
Bookrunners:	BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, U.S. Bancorp Investments Inc., CIBC World Markets Corp., Credit Agricole Securities (USA) Inc. and SMBC Nikko Securities America, Inc.
Co-managers:	CastleOak Securities, LP, Great Pacific Securities, Loop Capital Markets LLC and Williams Capital Group, LP
Coupon:	3.7%
Price:	99.76
Yield:	3.729%
Spread:	Treasuries plus 75 bps
Call features:	Make-whole call before May 15, 2028 at greater of par or Treasuries plus 12.5 bps; thereafter at par
Trade date:	Aug. 7
Settlement date:	Aug. 14
Ratings:	Moody’s: A1
	S&P: A-
	Fitch: A
Distribution:	SEC registered

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