By Aleesia Forni
Virginia Beach, Dec. 8 – Oklahoma Gas & Electric Co. sold $250 million of 4% senior notes (A1/A-/A+) due Dec. 15, 2044 on Monday at Treasuries plus 120 basis points, according to a market source and an FWP filed with the Securities and Exchange Commission.
The notes sold at the tight end of talk.
Pricing was at 98.214 to yield 4.104%.
Bookrunners were J.P. Morgan Securities LLC, RBS Securities Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC.
Proceeds will be added to the company’s general funds and used to repay debt, to fund capital expenditures, for working capital and for general corporate purposes.
The electric utility is based in Oklahoma City.
| Issuer: | Oklahoma Gas & Electric Co.
|
| Amount: | $250 million
|
| Description: | Senior notes
|
| Maturity: | Dec. 15, 2044
|
| Bookrunners: | J.P. Morgan Securities LLC, RBS Securities Inc., U.S. Bancorp Investments Inc., Wells Fargo Securities LLC
|
| Co-managers: | BOSC Inc., Deutsche Bank Securities Inc.
|
| Coupon: | 4%
|
| Price: | 98.214
|
| Yield: | 4.104%
|
| Spread: | Treasuries plus 120 bps
|
| Make-whole call: | 20 bps over Treasuries until June 15, 2044, then callable at par
|
| Trade date: | Dec. 8
|
| Settlement date: | Dec. 11
|
| Ratings: | Moody’s: A1
|
| Standard & Poor's: A-
|
| Fitch: A+
|
| Distribution: | SEC registered
|
| Price talk: | 125 bps area, tightened from 135 bps area
|
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