By Andrea Heisinger
Omaha, Aug. 23 - Consolidated Edison Co. of New York, Inc., priced an upsized $525 million of 6.3% 30-year debentures Thursday to yield 140 basis points over Treasuries, according to an informed source.
The issue was talked at $400 million, a market source said.
The bonds (A1/A) had a price of 99.443 to yield 6.342%. There was no price talk.
Bookrunners were Barclays Capital Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.
Proceeds will be used for general corporate purposes, including repayment of short-term debt.
The New York City-based subsidiary of Consolidated Edison, Inc. provides electric, gas and steam services.
| Issuer: | Consolidated Edison Co. of New York Inc.
|
| Amount: | $525 million upsized from $400 million
|
| Maturity: | Aug. 15, 2037
|
| Security description: | Debentures
|
| Bookrunners: | Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities Inc.
|
| Coupon: | 6.3%
|
| Price: | 99.443
|
| Yield: | 6.342%
|
| Spread: | 140 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | Aug. 23
|
| Settlement date: | Aug. 28
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Price talk: | None
|
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