Oncor offers 5.75% senior secured notes in exchange for 7% debentures

New York, Oct. 29 – Oncor Electric Delivery Co. LLC announced an exchange in which it is offering a new series of 5.75% senior secured notes due 2029 for its $800 million of outstanding 7% debentures due 2022.

The company is concurrently soliciting consents to amend the note indenture, according to a news release.

Holders will receive $1,000 principal amount of new notes for each $1,000 principal amount of existing debentures.

The total includes an early exchange premium of $50 new notes per $1,000 existing debentures that will only be paid for securities tendered by the early deadline of 5 p.m. ET on Nov. 9.

In addition, accrued interest will be paid up to but excluding the settlement date.

The offer ends at 11:59 p.m. ET on Nov. 27.

The exchange is being conducted under Rule 144A and Regulation S.

Global Bondholder Services Corp. (866 294-2200, 212 430-3774 or http://gbsc-usa.com/eligibility/oncor) is exchange agent and information agent.

Oncor is a Dallas-based electricity company.

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