Published on 9/23/2020 in the Prospect News Green Finance Daily and Prospect News Investment Grade Daily.
New Issue: Oncor Electric prices $450 million of 0.55% five-year green bonds at 40 bps spread
By Cristal Cody
Tupelo, Miss., Sept. 23 – Oncor Electric Delivery Co. LLC sold $450 million of 0.55% five-year senior secured sustainability bonds (A2/A+/A) on Wednesday at a spread of 40 basis points over Treasuries, according to an informed source.
Price guidance was in the 65 bps over Treasuries area.
Barclays, MUFG, PNC Capital Markets LLC and Wells Fargo Securities, LLC were the bookrunners.
Oncor Electric Delivery is an electric company based in Dallas.
| Issuer: | Oncor Electric Delivery Co. LLC
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| Amount: | $450 million
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| Description: | Senior secured sustainability notes
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| Maturity: | Oct. 1, 2025
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| Bookrunners: | Barclays, MUFG, PNC Capital Markets LLC and Wells Fargo Securities, LLC
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| Coupon: | 0.55%
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| Spread: | Treasuries plus 40 bps
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| Trade date: | Sept. 23
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| Ratings: | Moody’s: A2
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| S&P: A+
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| Fitch: A
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| Price guidance: | Treasuries plus 65 bps area
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