By Sheri Kasprzak
New York, March 18 - The Potomac Electric Power Co. in Maryland re-sold $109.5 million in series 2006 Maryland Economic Development Corp. pollution control revenue refunding bonds, according to a form 8-K filed Wednesday with the Securities and Exchange Commission.
The bonds, which are due Sept. 1, 2022, have a 6.2% coupon, priced at 100.68. The bonds are callable at par after March 1, 2019.
The bonds were initially sold as auction-rate securities on April 13, 2006 through the Maryland Economic Development Corp.
Morgan Stanley & Co. Inc. was the remarketing agent with KeyBanc Capital Markets Inc., SunTrust Robinson Humphrey and Wachovia Bank as the co-managers.
Proceeds will be used for general corporate purposes.
| Issuer: | Potomac Electric Power Co.
|
| Issue: | Series 2006 Maryland Economic Development Corp. pollution control revenue refunding bonds
|
| Amount: | $109.5 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead); KeyBanc Capital Markets Inc.; SunTrust Robinson Humphrey; and Wachovia Bank (co-managers)
|
| Maturity: | Sept. 1, 2022
|
| Coupon: | 6.2%
|
| Price: | 100.68
|
| Pricing date: | March 10
|
| Settlement date: | March 17
|
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