By Cristal Cody
Tupelo, Miss., March 30 – Oklahoma Gas & Electric Co. sold $300 million of 3.25% 10-year senior notes on Monday at 99.949 to yield 3.256% and a spread of 260 basis points over Treasuries, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial talk on the notes (A3/A-/A) was in the 300 bps over Treasuries area.
Mizuho Securities USA Inc., RBC Capital Markets, LLC and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used for general corporate purposes.
The electric utility is based in Oklahoma City.
| Issuer: | Oklahoma Gas & Electric Co.
|
| Amount: | $300 million
|
| Description: | Senior notes
|
| Maturity: | April 1, 2030
|
| Bookrunners: | Mizuho Securities USA Inc., RBC Capital Markets, LLC and Wells Fargo Securities LLC
|
| Co-managers: | KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC and BOK Financial Securities, Inc.
|
| Coupon: | 3.25%
|
| Price: | 99.949
|
| Yield: | 3.256%
|
| Spread: | Treasuries plus 260 bps
|
| Call feature: | Make-whole call before Oct. 1, 2029 at Treasuries plus 40 bps; thereafter at par
|
| Trade date: | March 30
|
| Settlement date: | April 1
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 300 bps area
|
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