By Aleesia Forni
Virginia Beach, Nov. 19 – OGE Energy Corp. sold $100 million of three-year floating-rate senior notes (A3/BBB+/A-) at par to yield Libor plus 55 basis points on Wednesday, according to an FWP filed with the Securities and Exchange Commission.
Pricing was wide of guidance, which was set at Libor plus 40 bps to 45 bps.
BNP Mellon Capital Markets LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be added to the company’s general funds and will be used to repay short-term debt.
Oklahoma City-based OGE is the parent company of Enogex and Oklahoma Gas and Electric Co.
| Issuer: | OGE Energy Corp.
|
| Amount: | $100 million
|
| Description: | Senior notes
|
| Maturity: | Nov. 24, 2017
|
| Bookrunners: | BNY Mellon Capital Markets LLC, RBC Capital Markets LLC, Wells Fargo Securities LLC
|
| Coupon: | Libor plus 55 bps
|
| Price: | Par
|
| Yield: | Libor plus 55 bps
|
| Trade date: | Nov. 19
|
| Settlement date: | Nov. 24
|
| Ratings: | Moody’s: A3
|
| Standard & Poor's: BBB+
|
| Fitch: A-
|
| Distribution: | SEC registered
|
| Price talk: | Libor plus 40 bps to 45 bps
|
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