Public Service Enterprise offers fixed-rate senior notes in two parts

By Devika Patel

Knoxville, Tenn., Nov. 3 – Public Service Enterprise Group Inc. will conduct an offering of senior notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be sold in two fixed-rate tranches due in 2019 and in 2021.

The 2019 notes have a make-whole call, and the 2021 notes have a make-whole call until Oct. 15, 2021 and then a par call.

Barclays, J.P. Morgan Securities LLC, RBC Capital Markets Corp., Scotiabank and Wells Fargo Securities LLC are the bookrunners. CIBC Capital Markets, Citigroup Global Markets Inc., MFR Securities, Inc. and TD Securities (USA) LLC are the co-managers.

Proceeds will be used for general corporate purposes, including repayment of all or a portion of the company’s commercial paper program debt.

The diversified electric utility company is based in Newark, N.J.

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