By Andrea Heisinger
Omaha, Nov. 29 - New York State Electric & Gas Corp. priced $200 million of 6.15% 10-year notes Thursday to yield 225 basis points more than Treasuries, an informed source said.
The Rule 144A notes (Baa1/BBB+/BBB+) priced at 99.879 to yield 6.166%.
There is a make-whole call feature at Treasuries plus 35 bps.
Bookrunners were Banc of America Securities Inc., J.P. Morgan Securities Inc. and UBS Investment Bank.
The utility is based in Binghampton, N.Y.
| Issuer: | New York State Electric & Gas Corp.
|
| Issue: | Notes
|
| Amount: | $200 million
|
| Maturity: | Dec. 15, 2017
|
| Bookrunners: | Banc of America Securities LLC, J.P. Morgan Securities Inc., UBS Investment Bank
|
| Coupon: | 6.15%
|
| Price: | 99.879
|
| Yield: | 6.166%
|
| Spread: | Treasuries plus 225 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Trade date: | Nov. 29
|
| Settlement date: | Dec. 4
|
| Distribution: | Rule 144A
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
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