Consolidated Edison of New York offers debentures in two parts

By Mary-Katherine Stinson

Lexington, Ky., Nov. 20 – Consolidated Edison Co. of New York, Inc. plans to offer series 2023 B and series 2023 C debentures, according to a 424B2 filing with the Securities and Exchange Commission.

The debentures feature a make-whole call some months before the maturity date and thereafter are callable at par.

BofA Securities, Inc. and Mizuho Securities USA LLC are acting as global coordinators of the offering.

J.P. Morgan Securities LLC, TD Securities (USA) LLC, Wells Fargo Securities, LLC, CIBC World Markets Corp. and Scotia Capital (USA) Inc. are acting as joint bookrunning managers for the 2023 B debentures.

Barclays, Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc., BNY Mellon Capital Markets, LLC, KeyBanc Capital Markets Inc., PNC Capital Markets LLC and U.S. Bancorp Investments, Inc. are acting as joint bookrunning managers for the 2023 C debentures.

Bank of New York Mellon is the trustee.

Consolidated Edison will use in-house counsel and will also be advised by Shearman & Sterling LLP. Hunton Andrews Kurth LLP is counsel to the underwriters.

Proceeds will be used for general corporate purposes, including repayment of short-term debt bearing interest at variable rates. As of Oct. 31, the weighted average for the company’s outstanding commercial paper was 5.48%.

The energy company is based in New York.

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