By Andrea Heisinger
New York, Dec. 8 - Oklahoma Gas & Electric Co. priced $250 million of 10-year senior notes (A2/BBB/) late Monday to yield Treasuries plus 549 basis points, according to market sources and a 424B5 filing with the Securities and Exchange Commission.
Full terms were not available at press time.
Bookrunners are Mizuho Securities, RBS Greenwich Capital and UBS Investment Bank.
Co-managers were Citigroup Global Markets Inc., Wedbush Morgan Securities, KeyBanc Securities and U.S. Bancorp Investments.
Proceeds will be used to repay a $50 million outstanding balance of a loan maturing in 2010, with the remainder used to repay a portion of borrowings under a credit agreement.
The electric and natural gas company is based in Oklahoma City.
| Issuer: | Oklahoma Gas & Electric Co.
|
| Issue: | Senior notes
|
| Amount: | $250 million
|
| Maturity: | January 2019
|
| Bookrunners: | Mizuho Securities, RBS Greenwich Capital, UBS Investment Bank
|
| Co-managers: | Citigroup Global Markets Inc., Wedbush Morgan Securities, KeyBanc Capital Markets, U.S. Bancorp Investments
|
| Coupon: | 8.25%
|
| Spread: | Treasuries plus 549 bps
|
| Trade date: | Dec. 8
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: BBB
|
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