Public Service Electric & Gas selling $400 million 30-year secured medium-term notes Monday

By Andrea Heisinger and Aleesia Forni

Columbus, Ohio, Jan. 7 - Public Service Electric & Gas Co. (A1/A-/A+) plans to sell a $400 million issue of 30-year secured medium-term notes on Monday, according to a filing with the Securities and Exchange Commission.

Barclays, Goldman Sachs & Co., Mizuho Securities USA Inc., RBC Capital Markets LLC, Wells Fargo Securities LLC, TD Securities (USA) LLC, U.S. Bancorp Investments Inc. and Williams Capital Group LP are the banks on the deal.

Proceeds will be added to the general funds of PSE&G and will be used for general corporate purposes.

The utility is based in Newark, N.J.

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