ComEd selling first mortgage bonds in tranches due 2019, 2044

By Aleesia Forni

Virginia Beach, Va., Jan. 6 - Commonwealth Edison Co. plans to sell a two-part offering of first mortgage bonds, according to a 424B2 filing with the Securities and Exchange Commission.

The deal is expected to include mortgage bonds due 2019, series 115, and bonds due 2044, series 116.

BNP Paribas Securities Corp., J.P. Morgan Securities LLC, Scotia Capital (USA) Inc., Credit Agricole Securities (USA) Inc., RBC Capital Markets LLC and U.S. Bancorp Investments Inc. are the joint bookrunners.

Proceeds will be used to refinance $17 million of the company's 5.85% bonds due Jan. 15, 2014 and $600 million of its first mortgage 1.625% bonds due Jan. 15, 2014 and for general corporate purposes.

ComEd is an electricity provider based in Chicago. It is a subsidiary of Exelon Corp.

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